AFF Member Stock Discussion

[prozac]

Do those statistics include profits made by the gas industry? The PRRT taxes the resources at a Federal level and then the profits are also txaed as company tax.

How much 'export tax' does the wine or beer industry pay? Should all companies that export pay an export tax?

You should read up about the carbon tax that Julia Gillard introduced and how it morphed via successive governments into the resource tax it is now (PRRT). Nothing to do with taxing exports generally.

 

[Brissy1]

Do you know Australia collects just $1.5b in gas export tax (PRRT), but $2.7b in beer excise tax? Failure to tax gas exports impacts the level of personal tax we all pay. About time successive governments get some common sense.

Don't they pay state taxes/royalties as well? (For our qld 50c train fares).

 

[prozac]

Don't they pay state taxes/royalties as well? (For our qld 50c train fares).

They possibly do and you'd need to look it up but that is nothing to do with export and could pertain to domestic gas supply.

 

[Brissy1]

They possibly do and you'd need to look it up but that is nothing to do with export and could pertain to domestic gas supply.

I don't think your comparison to "beer excise" has anything to do with export either.

 

[Mr_Orange]

domestic gas supply

What's that?

We import all our gas which is the main reason it's so expensive! If the government mandated that enough was kept to satisfy domestic supply, gas prices would be much lower and there wouldn't be such a 'cost of living crisis'.

Disclaimer: I'm not a gas consumer for this very reason. Electric only.

 

[prozac]

I don't think your comparison to "beer excise" has anything to do with export either.

You're proposing a circular argument. You can do that by yourself.

 

[cove]

Seems alcohol consumption has dropped in Australia and I am not sure if it is now too expensive or something else.
There are now quite a few beers that I consider not worthy of drinking based on my taste.
Saw TWE having issues in China.

 

[prozac]

Seems alcohol consumption has dropped in Australia and I am not sure if it is now too expensive or something else.
There are now quite a few beers that I consider not worthy of drinking based on my taste.
Saw TWE having issues in China.

There are somne truly appalling beers for sale in establishments that honestly do not deserve to be there over the decent brews they replaced.

Not sure how consumoption has diminished. Not in my home.

 

[SYD]

Seems alcohol consumption has dropped in Australia and I am not sure if it is now too expensive or something else.
There are now quite a few beers that I consider not worthy of drinking based on my taste.
Saw TWE having issues in China.

A lot of younger peeps are drinking a lot less than previous generations - apparently.

 

[prozac]

A lot of younger peeps are drinking a lot less than previous generations - apparently.

Alot less wine apparently

 

[Mr_Orange]

Alot less wine apparently

apparently.

 

[Scarlett]

Alcamahol is pretty expensive these days. Apparently.

 

[markis10]

We import all our gas which is the main reason it's so expensive!

We don’t import all our gas, 20% of our production is used domestically which is significant as we are number 2 in the world.

 

[Mr_Orange]

We don’t import all our gas, 20% of our production is used domestically which is significant as we are number 2 in the world.

Mea culpa - that 20% isn't enough to fulfil the domestic demand though and we should keep enough for that.

 

[markis10]

Mea culpa - that 20% isn't enough to fulfil the domestic demand though and we should keep enough for that.

Have to blame QLD for that, no provision for royalties or domestic reservation when Curtis Island came on board with Queensland Curtis LNG (a joint venture of QGC – now a Shell-owned business, China National Offshore Oil Corporation and Tokyo Gas), Australia Pacific LNG (a joint venture of ConocoPhillips, Origin and Sinopec), and Santos GLNG (a joint venture of Santos, Petronas, Total, and Kogas) all enjoying the spoils.

 

[OZDUCK]

And blame both sides of politics for it as well. It is an oft repeated tale in W.A about how our state Premiers, both Liberal and Labor, were abused by both the mainstream media and their same party brethren in Canberra for introducing and maintaining a Gas Reservation Policy here. The policy was described as 'hillbilly policy' by the media and fervently denounced by Federal government ministers of all ilks.

 

[Brissy1]

Have to blame QLD for that, no provision for royalties or domestic reservation when Curtis Island came on board with Queensland Curtis LNG (a joint venture of QGC – now a Shell-owned business, China National Offshore Oil Corporation and Tokyo Gas), Australia Pacific LNG (a joint venture of ConocoPhillips, Origin and Sinopec), and Santos GLNG (a joint venture of Santos, Petronas, Total, and Kogas) all enjoying the spoils.

Absolutely wrong, Qld now collects $billions in gas royalties. And there is no shortage of domestic gas in Qld, just a shortage of what other states want Qld to increase supply. And why should it when the southern states have plentiful.
There is no shortage of gas in NSW or Vic, just a shortage of gov will to allow its extraction. It's taken decades for the massive western NSW Narrabri field to be approved even though it, alone, can supply 50% of NSW gas needs.
Vic crying shortage but has embargoed all new mainland gas extraction and despite its large proven reserves, is going to import LNG; laughable.
Fiscal strength of Qld and WA compared to NSW and (basket case) Vic is not accidental.

 

[harryhv]

It's taken decades for the massive western NSW Narrabri field to be approved even though it, alone, can supply 50% of NSW gas needs.

... At a huge cost. The fracking will destroy the water table of the Liverpool Plains which is the most fertile agricultural area in NSW. Farmers sold own the river by the National party,

 

[markis10]

Absolutely wrong, Qld now collects $billions in gas royalties

They didn’t when Curtis Island came online, 2022 things changed but budget estimates have been way above reality . The companies in 2022 had 22.15 billion revenue under the new royalty laws yet paid 1.1 billion royalties, previous year 300m. I am sure we would all like a 5% tax rate! https://ieefa.org/media/2691/download?attachment

 

[serfty]

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