NT Media Releases


ANOTHER DAY, ANOTHER NEW TAX ON NT MINING

The Northern Territory Government Budget today introduces two new taxes on the NT mining sector – a move that runs contrary to the claims that the top end is open for business. Along with the plan to impose a new tax on top of a revised environmental bond system announced last week, the Budget includes a surprise announcement of a cap on transfer pricing and a limit on head-office deductions for mining companies.

NT GOVERNMENT’S MINING TAX GRAB

The Northern Territory minerals industry will vigorously oppose plans to increase the tax burden on the resources sector in this month’s Budget. The Government’s plan to introduce a new abandoned mines tax on top of a revised environmental bond system is unnecessary and unwarranted. It is based on a flawed understanding of the environmental bond system and is being imposed at time when the NT minerals sector is under significant stress due to low commodity prices, the high dollar, rising costs and declining productivity. This is a retrospective tax that holds private companies to account for past failures of Government regulation. This sets a disturbing precedent for other industries that have an impact on the environment such as agriculture, fisheries and industrial development. Regrettably, the proposed tax has been presented to industry as a fait accompli despite requests to work with the Government to achieve a better and fairer outcome.
Far too often in the recent past, the Australian minerals resources sector has been presented with flawed tax proposals that are already set in stone. Here we go again. The NT government has campaigned that mining is one of the Territory’s three economic hubs. How will burdening the sector with a new tax help develop one of the main pillars of the economy? The Minerals Council of Australia – Northern Territory Division is calling on the Government to abandon this tax proposal and consult with industry on potential changes to the environmental bond system.

MCA – NT WINS NATIONAL TRAINING AWARD

The Minerals Council of Australia Northern Territory Division and Batchelor Institute of Indigenous Tertiary Education have won the 2012 Australian Training Award for Industry Collaboration.

Industry Concerns Grow on New News of Revised Park Boundaries

The Minerals Council of Australia turned up the heat on the Northern Territory Government following news that the original boundaries to the proposed Limmen Park have been revised and has renewed calls for open and transparent decision-making from the Territory Government on the issue. “The Minerals Council of Australia has received no formal advice on any changes to the proposed park boundaries and this is a serious concern given the extent of exploration activity and investment in the region,” said Mr Stewart.

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