Submission to Northern Territory Revenue Review

Between 2005 and 2013 Australia went through the biggest resources investment boom in its history with over $423 billion of investment into the Australian resources sector (including minerals and petroleum projects). However, less than 4 per cent of this capital expenditure was directed into the Northern Territory and no new major mining operations were started in this period.  This is despite the Northern Territory holding some of the richest mineral deposits in the world.

The guiding objective of the NT revenue review should be to increase the Territory's growth through a more competitive tax system.  The Government needs to focus on improving the attractiveness of mining investment to better capitalise on the natural advantages of the Northern Territory.

A stable, competitive tax system is required for investment, especially in highly capital-intensive industries characterised by multi-decade investments such as mining. Confidence in the stability of the tax system is a key consideration for investors deciding where to invest

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