 Non-renewable resource taxation: policy reform in AustraliaLindsay Hogan Australian Journal of Agricultural and Resource Economics, 2012, vol. 56, issue 2, 16 Abstract: In July 2010, the Australian Government announced that, effective from 1 July 2012, the petroleum resource rent tax will apply to all offshore and onshore oil and gas projects (including liquefied natural gas and coal seam gas projects), and a minerals resource rent tax will apply to coal and iron ore projects. State/territory governments mainly apply ad valorem royalties to oil and gas, coal and iron ore projects; these royalty payments will be creditable under the Australian Government’s resource rent taxes. This paper argues that a hybrid system allows governments to collect a minimum return to the non-renewable resource through the ad valorem royalty and a share of the rent from higher-profit projects through the rent-based tax. This paper also provides updated and expanded estimates of the potential shortfall in resource taxation revenue over the period 1992–1993 to 2009–2010 by comparing actual revenue with revenue under a range of hypothetical Brown taxes. Keywords: Environmental Economics and Policy; International Development (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:208899 Access Statistics for this article More articles in Australian Journal of Agricultural and Resource Economics from Australian Agricultural and Resource Economics Society Contact information at EDIRC. |
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