... is the nation’s 6th largest export earner ... earned $14 billion of export revenue in 2014-15 ... is the 2nd largest producer of gold in the world

Royalties


The gold industry is an important contributor to government revenues in Australia. Taxes and charges paid by the industry include:

  • company tax
  • royalties
  • payroll tax
  • carbon Tax
  • stamp duty
  • exploration security deposits
  • mine safety levies, as well as a host of other State and Local Government charges.

Mineral royalty payments represent a direct return to the community from the discovery and extraction of gold resources. The gold industry paid almost $2.2 billion to State and Territory Governments in royalty payments alone in the decade to 2012-13. Gold royalties in 2012-13 totalled about $291 million, up 112% compared with 2002-03. Given its share of Australian production, more than 70% of gold royalties are paid to the Government of Western Australia where gold royalties accounted for almost 4.2% of total royalty receipts in 2012-13.

Taxes and royalties paid by the gold industry help to fund education, health, transport and community infrastructure and other government services.

Chart 1: Royalties payment by gold sector

 

Source: Deloitte Access Economics (DAE)