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Australian Government introduce 40% TAX to Mining Companies

Discussion in 'Jukwaa la Siasa' started by gogomoka, May 3, 2010.

  1. g

    gogomoka Senior Member

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    Mining tax 'ensures Australians share in boom'
    By Melissa Clarke

    Updated Sun May 2, 2010 4:06pm AEST


    The Government will use about one-third of the revenue raised from the resource super profits tax to establish a new infrastructure fund (ABC News )

    Video: Rudd responds to the Henry review (ABC News) Related Story: Families play waiting game on tax overhaul Related Story: Contentious tax proposals rejected Related Story: Mining boom to pay for super revolution Mining companies will have to hand over hundreds of millions of dollars each year under a new tax announced by the Federal Government.

    But all businesses will benefit from a lower company tax rate and simplified depreciation rules as part of the Government's response to the Henry tax review.

    Treasurer Wayne Swan says the changes are designed to ensure all Australians get their fair share from the nation's resources.

    From July 1, 2012, the Federal Government will take 40 per cent of mining companies' profits under a new resource super profits tax.

    But the tax will only apply after exploration and capital investment costs have been recouped and shareholders have received a normal dividend.

    The new tax will collect $3 billion for the Government in 2012-13 and $9 billion in 2013-14.

    The Federal Government will reimburse mining companies the royalties they pay to state governments.

    The move is designed to force the states to drop their charges.

    The Government will use about one-third of the revenue raised from the resource super profits tax to establish a new infrastructure fund.

    The Government has indicated that resource-related infrastructure will be a priority for the fund, meaning resource-rich states like Western Australia and Queensland will benefit most from the fund.

    "It will ensure that all Australians get a better share of the boom," Treasurer Wayne Swan said.

    "There are billions of dollars that Australian people have missed out on. It is absolutely critical that we grow all sectors of the economy together."

    The Government says the new arrangements will see highly profitable mining projects pay more tax and less profitable companies pay less tax.


    Sweeteners for resource companies

    The Government is hoping it can relieve some of the pain inflicted by the new tax with other measures.

    There will be a five year phase-in period for the new tax and companies will be able to accelerate the depreciation of their existing projects.

    From July 1 next year, all mining companies will get a rebate for exploration costs at the company tax rate.

    Small resource companies not turning a profit will get the rebate as a cash benefit.

    "We believe the arrangement we are putting forward will encourage growth," Mr Swan said.


    Lower company tax rate

    Australia's 30 per cent company tax rate is relatively high compared to other OECD nations.

    The review recommends bringing it down to 25 per cent to make Australia more internationally competitive.

    The Government is taking the middle road by scaling the tax down to 28 per cent.

    Small businesses will pay the new rate from 2012-2013, but larger businesses will have to wait longer to benefit from the concession.

    For them, the tax rate will be lowered to 29 per cent in 2013-2014 and then to 28 per cent in 2014-2015.


    Less red tape

    Small businesses will also benefit from changes aimed at simplifying compliance obligations.

    They will be able to instantly write-off assets worth up to $5,000. Currently the limit is $1,000.

    All assets costing more than $5,000, except buildings, will fall into one depreciation pool with a rate of 30 per cent.

    In the long run, the Federal Government says all of its changes to the tax system will add 0.7 per cent to gross domestic product.

    It calculates that will see a full-time worker on average weekly earnings get an extra $450 a year.
     
  2. M

    Magezi JF-Expert Member

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    If this is the case why Barrick Gold is complaining while they are not paying any tax to Tanzania?
     
  3. g

    gogomoka Senior Member

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    Sisi wadanganyika..tunagombania 4% wakati wenzetu wanaongelea new 40% tax to mining companies to establish infrastructure funds. Tanzania tukiwa na infrastructure fund angalau tutaona barabara, mashule, hospitali na mengineyo yaki-improve. Sasa hao kina Deo Mwanyika sijui watasemaje wakisikia kuhusu hili!
     
  4. K

    Kicheruka JF-Expert Member

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    Kwa hali hii hapa Tanzania hawa watu wanaojiita viongozi wakishiurikiana na wamarekani kuiba madini yetu wanatia kinyaa hata ukiwasikia wanaongea sijui wanaakili gani na wanatarajia nini kwa maliasili za madini ya nchi hii
     
  5. Zitto

    Zitto MP Kigoma Urban

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    Gogomoka,

    Kodi inayoongolewa hapa ni corporate tax na sio royalty. Corporate tax Tanzania ni 30%. Hii ya Australia ni mbaya kwani inawapa investors generous provisions katika kurejesha investments zao (recoup thei investments and deduction on deprecitiation).

    4% unayosema ni royalty kwa Tanzania na kodi ya mapato bado ipo pale pale. Prposal za fiscal regime kwetu ni more radical maana tunaondoa generous allowances katika capital investments recoup na depreciation.

    One good thing ya Australia ni kuwa mining sector yao ni ya miaka mingi na hivyo tayari wana mapato wanapata wakati sisi in muongo mmoja tu. Australia kodi zao zinaanza kuanzia 2012 wakati sisi zinaanza mara moja.

    Sometimes muwe positive for your country to back your leaders in reforms. Mining companies are resisting reforms, Tanzanians should back the government to win against these investors and ensure maximum revenues for our country.
     
  6. Nyambala

    Nyambala JF-Expert Member

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    Tatizo naloliona mh. Zitto in Tanzania when it comes kwenye ishu ya madini ni kwamba watu hawaappreciate proffesionalism kwenye mijadala. As such facts zinakuwa ignored na inakuwa ni kulalamika, kuongea ongea tu na kujustfy opinions. Hii ni kwa wanancvhi wa kawaida na hata Viongozi............ Watu wakisikia madini they just think of money in the pocket!
     
  7. g

    gogomoka Senior Member

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    Zitto,

    Hayo maelezo yako yalikuwa wapi mpaka sasa hivi tunakuja kufikia kufanya reform ya hii Mining Act ya 1998? Ukweli utabaki pale pale ni kuwa sisi watanzania tutaendelea kuibiwa halimradi wale waliopitisha mkataba wa mwanzo wataendelea kubaki madarakani.
    Pili, ili niwe positiive kwa viongozi wetu ni pale tu watakapo weka mazingira mazuri ya taxation and banking kumuwezesha yeyote mwenye dream yake kuweza kuifanikisha bila vikwazo. Tutaendelea kutegemea wawekezaji wakubwa kuja kuwekeza hapa ndio tuje kupata so called mrahaba? Mpaka lini? Australia walivyoanza hawakutegemea kampuni za nje kwenda kuwekeza huko kwao ila Serikali yao iliwawezesha wananchi wao kuweza kuanzisha makampuni ya madini madogo yakawekewa Taxation policies nzuri kuwawezesha kukua mpaka hapa walipofikia. Kamwe tusitegemee maendeleo kwa kulilia watu waje wawekeze ...The bottom line Mheshimiwa Zitto ni kuwa kitendo cha kufikiri muwekezaji ndio atatuletea maendeleo... hiyo ni UTOPIAN dream. Nategemea mheshimiwa thinking yako haipo flawed kama wengine wengi ndani ya siasa zetu.
    "One good thing ya Australia ni kuwa mining sector yao ni ya miaka mingi na hivyo tayari wana mapato wanapata wakati sisi in muongo mmoja tu.]."
    Kwa hilo hapo basi mie nijue kitukuu changu ndio kitakuja kufaidi matunda ya madini yetu (kama barabara nzuri zisizojaa maji mvua ikinyesha, hospitali, maji, elimu au watakuta mashimo yatakayowaua kwa kutumbukia kisa generation yetu imechimbua kutoa madini) kwani Australia wameanza kuchimba madini mwaka 1850. Au kama si hivyo basi ni bora tuyaache hayo madini huko chini kwani HAYAOZI kama alivyotuachia Mwalimu Nyerere.
     
  8. Edson

    Edson JF-Expert Member

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    aliyeliloga taifa hili alishakufa zamani sana
     
  9. g

    gogomoka Senior Member

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    Nyambala,

    Weka point zako na sio kuponda bila sababu. Maana ya debate ni ushindani wa hoja. Unajua sie watanzania akishajibu tu kiongozi wako hata kama hayupo sahihi wewe utakubaliana naye na kuona wengine wote ni wendawazimu. Suala muhimu la kujiuliza na kutafuta jibu ni kuwa wewe si ajabu ni mmoja ya watanzania wanaoamini maendeleo yatakuja kwa njia ya wawekezaji. Kama unadhani wawekezaji wanataka mpate maendeleo si hata wangekuja kuweka IPO zao hapo angalau na nyie muenjoy utajiri wenu?
    Tupo makini ndio sababu tunachimbua mpaka vinavyoendelea kwa wenzetu waliomakini kama huko Australia. Wacha waendelee kula nchi yao na sie tuendelee kulilia wawekezaji.
     
  10. Abdulhalim

    Abdulhalim JF-Expert Member

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    Mkulu take it easy..kuna watu humu ni wepesi sana kuji-submit kwenye 'authority' badala ya ku-approach mjadala kutoka kwene angle ya free-thinking.

    Nakubaliana na wewe kwenye suala la kutegemea 'wawekezaji'..Hii ndio sad story ya uongzoi wa sasa. Nilishawahi kutoa pendekezo kwamba kaa hawapo kutuongoza kuchukua uchumi wetu mikononi mwetu na badala yake kazi yao ni UKUWADI WA RASILIMALI ZETU..why do we need them in the first place? Badala yake mi nadhani tunaeza ku-hire expatriate proven BROKERS wakafanya kazi hiyo with flair, efficiency, na ktk competitive price kuliko the whole bunch of expensive white elephant of the so-called 'GOVERNMENT'..kwa kifupi ukuwadi ndio talk of the town, na unasimamiwa na kukingiwa kifua hata na SHERIA ZETU..sasa siezi na sihitaji kuwa optimistic kwamba tutaupiga vita umaskini it is simply IMPOSSIBLE.
     
  11. Nemesis

    Nemesis JF-Expert Member

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    Asante Mhe. Zitto, tatizo ni kukosekana kwa uwazi na maelezo sahihi juu ya sekta ya madini. Maelezo kama haya na mengine mengi mnayajua wachache tu. Wizara inayohusika na madini na kamishna wa madini hawajafanya jitihada za kutosha kuweka mambo wazi ili tuwe tunaelewa kinachofanyika, japo katika yale mambo ambayo si ya siri.

    Swali: Kwanini basi mchango wa madini ni mdogo katika uchumi wa nchi licha ya kuwa wazalisjaji na. 3 wa dhahabu Afrika? kwa wenzetu Ghana kupoje?
     
  12. Selous

    Selous JF-Expert Member

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    Mhe Zitto, Karibu na mambo yanakwendaje?

    Ukiona watu wanalaumu tu bila hata kupongeza ujue either uvumilivu au uaminifu haupo. Hoja zangu ni hizi;
    • Kodi tu ndo madini? Sheria ya zamani tulioipinga ina mengine mazuri, vipi matunda yake? can we get proud of it? Mimi ni muumi wa indirect services kama kusuply na kutoa huduma pamoja na kufundisha watu wetu. Hapa tutapata matunda, we can turn gold into good schools, qualified teachers, roads, power ect. Kwa uchache haya alisema Mhe Hamad Rashid.
    • Tuna sheria nyingine nzuri kabisa lakini mpaka hapa tunazifuata? sijapata copy kuona mlicho aidhinisha but rasmimali za utekelezaji bado ngumu. Awareness ya kile kilichopo nani anajua? wako wapi watu wakuisimamia? Wanajua kinachotokea? Nilishangaa juzi kuona hata ndugu yangu mserikali wa huko huko madni anasema eti tunaibiwa while TMAA wapo na TRA wapo. This gives me hatuna watu wanaojua nini kinahotokea.
    Kweli wao na wewe/nyie mnajitahidi lakini kutokana na mazingira yetu nachelea kukubali kwa kuwa najua kinachofanyika na nini serikali inatakiwa kufanya na havifanyiki. We have a good legal framework sasa utekelezaji ndo napata shida, umefanya nafasi yako kaka lakini walitakiwa wawe zaidi ya happa tulipo na kama hii ngazi imewekwa nani wakuitumia kwa manufaa yetu?
     
  13. Abdulhalim

    Abdulhalim JF-Expert Member

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    Some optimism in this thread beats me kwa kweli.

    Kuna watu wanauliza ati kwanini nchi yetu ni maskini while tuko na madini kibao plus other natural resources EVERYWHERE? do u seek the service of rocket scientist kujibu swali ubweche kaa hili? Jibu ni rahisi tu, it is a combination of POOR LEADERSHIP, LACK OF VISION, plus many other reasons...but this two should tops the list. I think this are NOT new to all of US . Sasa then how come unauliza kwanini madini hayatufaidii while hakuna structure and tools zezote in place kueza kudhibiti na kuhakikisha watu wetu wanashikilia uchumi..unategemea mgeni akushikie uchumi halafu wewe uwe tajiri? tangia lini au mliona wapi? lol..
     
  14. G

    Godwine JF-Expert Member

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    tatizo ni kwa wataalamu wetu kuweza kufuatilia hii corporate tax kwani uchajiwa katika profit na sio gross income, kila siku makampuni ya madini yatakutangazia kwamba operating cost ziko juu kwahiyo hawajapata faida kwasababu wanahitaji kurudisha investiment zao, lini tutaweza kuwadhibiti,
     
  15. Obi

    Obi JF-Expert Member

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    Bwana Zitto
    Kwa maneno hayo sikubaliani na wewe. Kibaya kwetu sisi ni mikataba ya uchimbaji wa hayo madini. Mfano mzuri ni kampuni ya Resolute Tanzania sasa hivi wapo kwenye mine closure. Wamevuna vya kutosha mpaka wameanzisha mgodi mwingine nchini Mali kwa kutumia fedha walizopata Tanzania. Je sisi Tanzania tuumefaidika vipi na hayo madiini?
    Cha msingi sio muongo mmoja bali rasilimali hizi ziiwafaidishe wanyonge na masikini.
     
  16. Rufiji

    Rufiji JF-Expert Member

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    Zitto,

    When you said Mining Companies are resisting reforms what do you mean? These companies are operating in our country, and therefore it is mandatory for them to comply with our laws! If they are against reforms then they should leave the country, I don't think there should be a room for negotiations.

    Second, you stipulated that the new Australia's mining law will go into effect in 2014 while ours will be implemented immediately; however, you have forgotten to mention that many mining companies in Tanzania were not paying corporate taxes because they were still in the grace period, tax holiday.
     
  17. Nyambala

    Nyambala JF-Expert Member

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    Mkuu thanks kwa maoni yako, lakini maoni yangu hayakuwa kuponda wala kudegrade maoni ya mtu mwingine. Nilikuwa najaribu tu kuexpand namna ya kuufikiria mjadala huu. Lakini unatakiwa uelewe kitu kimoja kwamba mining business si lelemama na ni too risky, na kusema hivi simaanishi kwamba kinachoendelea hapo TZ ktk mining industry is fair whatsoever.

    Mining industry as large as it may look ina players wachache sana. These players/ Investors wana provisional exploration map ya madini ya almost ya dunia nzima na wanaiona dunia kama kijiji. What does this mean? They will always go where it is favourable katika hiyo ramani ya dunia.

    For your information hii kodi kwa hapa Australia bado haijajadiliwa na kukubalika na wadau. As of now Economists, tena wengine wa serikali, wanasema impact ya kodi hii itakuwa kubwa sana as such ajira na upanuzi wa shughuli za madini ziko hatarini in the next few or more years kama hii kitu itakuwa implemented by hiyo 2012.. Hili litakuwa pigo kubwa kwa two states, Western Australia na Queensland ambazo uchumi wake unategemea mining for more than 50%. Na mpaka sasa serikali za state hizi zimeanza kutofautiana mitizamo moja ikipinga nyingine ikikubaliana na ongezeko la hii kodi.

    Economically inaonekana itakuwa cheap kwa BHP kuanzisha mgodi mwingine New Guinea kuliko kupanua say Olympic Dam mine in Australia. Au kwa Rio Tinto ni rahisi kuanzisha mgodi mpya wa shaba Chile wenye 2 x capacity kuliko kuendeleza uliopo hapa OZ.

    All in all ni kwamba haya mambo yana leverage kati ya faida ya kampuni na nchi husika. Sisi mining industry yetu bado ni changa mno kiasi kwamba ili tufaidi madini yetu ni muhimu wazawa + serikali iteam up na haya makampuni ya kibepari kurun biashara ya uchimbaji na uuzaji madini. Lakini kwa mifumo ya makampuni hayop makubwa ya madini wakiachiwa peke yao ni vigumu mno kufaidika kwenye industry changa kama yetu. "Hata tukigoma miaka nane" as quoted from JK.

    Sheria hii ya Oz hata ingewekwa leo TZ bado tusingepata kitu maybe in the coming 15yrs maana it is 40% based on profits. Jmaa hapo bongo bado wanakwambia hawajarudisha gharama za investment.

    Kuna mambo tunaweza kurekebisha sasa hivi hata this week na hii haihitaji hata bunge kama tuko serious ni watu wetu kufanya biashara na migodi. Kuna haja gani kitu kinachotoka Marekani au Europe kiwe na middle man msouth Africa ili kije Tanzania? Kuna haja gani ya kampuni ya kurun catering, laundry, hata bar itoke Ufaransa?
     
  18. Nyambala

    Nyambala JF-Expert Member

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    Mkuu mi nishasahau yale, bado tu unatembea na kinyongo?
     
  19. BAK

    BAK JF-Expert Member

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    Kama kuna mtu anafahamu haya makampuni ya uchimbaji wa madini huko Australia yalikuwa yanalipa asilimia ngapi kwa royalties aweke hapa.
     
  20. Abdulhalim

    Abdulhalim JF-Expert Member

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    Dude what r u talking about? Natembee na kinyongo kwa lipi haswa? Don't flatter urself, I don't discuss 'characters' ( to be exact, electronic characters') bali IDEAS na misingi ya FIKRA.
     
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