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Australia's Mining Fiscal Regime: H1 2014

Synopsis

Timetric's Australian fiscal regime report outlines governing bodies, governing laws, licenses, rights and obligations and tax-related information on 11 commodities: coal, iron ore, copper, zinc, bauxite, gold, silver, nickel, chromium, manganese and platinum group metals.

Summary

Australia has abundant and diverse natural resources which include extensive coal, iron ore, copper, gold, natural gas, and uranium reserves. The federal and state governments in Australia have separate roles and responsibilities with regards to resource exploration and development. Mineral resources are owned by the Australian or state/territory governments, rather than private individuals.

Scope

The report outlines Australia's governing bodies, governing laws, mining rights and obligations and key fiscal terms which includes royalty for the individual states, minerals resource rent tax, corporate income tax, capital gains tax, deductions, depreciation, withholding tax, loss carry forward, loss carry back offset and service and goods tax.

Key highlights

  • The federal and state governments in Australia have separate roles and responsibilities with regards to resource exploration and development. Mineral resources are owned by the Australian or state/territory governments, rather than private individuals.
  • The Minerals Council of Australia represents Australia in national and international markets for the exploration, mining and processing of minerals. Its member companies contribute more than 85% of the annual mineral production.
  • The Department of Industry was established in September 2013. Its main purpose is to increase Australia's economic prosperity and improve productivity, competitiveness, security, and the sustainability of resources.
  • Geoscience Australia is responsible for generating geoscientific information.

Reasons to buy

Gain an overview of Australia's mining fiscal regime.

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Australia's Mining Fiscal Regime: H1 2014
Published By :Timetric
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