If Australia's resources were taxed the way Norway's are, we could secure the future of our schools
Treasurer Josh Frydenberg was quick to scotch rumours recently that he was set to increase taxation on oil and gas mining in this year’s budget, despite indications that the outcome of a current treasury review could recommend changes to the application of the petroleum resource rent tax.
The fact that the current Senate inquiry into Australia’s oil and gas reserves has pushed its reporting date back, from 1 March to 16 September, also suggests that any decision to reform this notoriously ineffective tax is being put in the “too hard basket” by the government.
This is unsurprising, given the general reluctance of the government to undertake a meaningful restructuring of our tax base, but especially given the fear of taxing the profits of multinational companies that extract Australia’s natural resources
Read more; https://www.theguardian.com/commentisfree/2020/feb/24/if-australias-resources-were-taxed-the-way-norways-are-we-could-secure-the-future-of-our-schools
The fact that the current Senate inquiry into Australia’s oil and gas reserves has pushed its reporting date back, from 1 March to 16 September, also suggests that any decision to reform this notoriously ineffective tax is being put in the “too hard basket” by the government.
This is unsurprising, given the general reluctance of the government to undertake a meaningful restructuring of our tax base, but especially given the fear of taxing the profits of multinational companies that extract Australia’s natural resources
Read more; https://www.theguardian.com/commentisfree/2020/feb/24/if-australias-resources-were-taxed-the-way-norways-are-we-could-secure-the-future-of-our-schools
Comments
Post a Comment