abc.net.au/news/coal-royalty-hike-impacting-queensland-mining-sector-qrc-says/101458878The Queensland Resources Council says the state's decision to hike coal royalties is putting the viability of Queensland's coal industry at risk and claims the expected revenue has been "wildly" underestimated.
Under the tiers, royalty rates would rise from 15 per cent for prices above $300 per tonne to 40 per cent. But Queensland Resources Council chief executive Ian Macfarlane said the state had already collected that $1.2 billion in just three months of the new royalty rates, and the sector would not accept the continued tax.
If the government was serious about climate change and global warming, they would shut the coal mines down instead of arguing about $$$
OF course they do. 'Megacorp that avoids tax wants to avoid royalties as well'. No surprise there. It would be more newsworthy if they said 'Fair enough - we've made billions this year, lets share.'
Lol
So if the royalty revenue was an ‘under-estimate’ surely that means the coal revenue was much higher, and with costs more or less same, profits must be sky-high and above forecast. Why shouldn’t the people share this unexpected windfall?
So...we can tax them more