Deloitte Access Economics MCA 2016-17 royalties and company tax estimates

Estimates of royalties and company tax accrued in 2016-17 by Deloitte Access Economics reveals that Australian mining companies paid $12.1 billion in company tax in 2016-17 – almost four times as much as 2015-16, the highest since the mining investment boom in 2011-12 and more than the Federal Government spent on the Pharmaceutical Benefits Scheme.

Mining companies also paid $11.2 billion in royalties in 2016-17, providing total revenue to Commonwealth and State Governments of $23.3 billion in company tax and royalties in 2016-17 – double the previous year.

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