The Law Should Australians receive a dividend of the country's natural resources sold?

[baphomet]

Alaskan bush people has informed me these northern americans get about 2000 dollars a year from the oil Alaska sells.

I thought it was a Scandinavian thing but the right wing protectors of capitalism do it too - https://en.m.wikipedia.org/wiki/Alaska_Permanent_Fund


should Australians get a few dollars from coal oil uranium sold ?

 

[kwikfix]

Alaskan bush people has informed me these northern americans get about 2000 dollars a year from the oil Alaska sells.

I thought it was a Scandinavian thing but the right wing protectors of capitalism do it too - https://en.m.wikipedia.org/wiki/Alaska_Permanent_Fund


should Australians get a few dollars from coal oil uranium sold ?

You do in the form of welfare.

 

[baphomet]

Australia is the world's leading producer of rutile, zircon,bauxite, iron ore and ilmenite, the second largest producer of alumina, gold, lithium, manganese ore, lead and zinc, the third largest producer ofuranium, and the fourth largest of silver, nickel and black coal.

You do in the form of welfare.

Everyone in Alaska gets a dividend of the oil.

A minority of Australians get centerlink

 

[VineyIsLORD]

Well of course we should. But that kind of talk might get one branded a socialist.

 

[Scotland]

We should and we do.

 

[Power Raid]

20% of corporate tax is from the mining industry

Plus a further 15% equivalent if you translate royalties into corporate tax.

That's 35% of total corporate tax coming from the mining industry.


We should introduce a new mining tax to cover state agreements. State agreements are no longer relevant, thus should be subject to standard royalties.

It is hard to measure but have it a guess this would equate to a further 15% take.

 

[baphomet]

Well of course we should. But that kind of talk might get one branded a socialist.

That what I thought

Until I saw Alaskan (american the beacon of capitalism assuming you disregard the bailouts ) bush people

 

[Mofra]

Alaskan bush people has informed me these northern americans get about 2000 dollars a year from the oil Alaska sells.

I thought it was a Scandinavian thing but the right wing protectors of capitalism do it too - https://en.m.wikipedia.org/wiki/Alaska_Permanent_Fund

should Australians get a few dollars from coal oil uranium sold ?

Last time we tried the mining industry screamed blue murder and the Murdoch press went into an anti-Gillard meltdown.

Norway gets a staggering amount of royalties from their oil reserves in the North Sea and they have arguably the healthiest sovereign fund on the planet.

 

[igon value]

Something like 70% of cash flow from an oil well drilled in Australia goes to the Federal government. If the government take more than that, would anyone drill for oil?

I prefer Australia's system of apportioning revenue to 'dividends' to everyone. In the main, we try to give it to people who are most needy, have a vast welfare state as well as an amazing health care system.

 

[Mofra]

I prefer Australia's system of apportioning revenue to 'dividends' to everyone.

That favours shareholders, of which in many cases a high proportion are companies domiciled outside of Australia.

I'm not sure fundies receiving the bulk of dividends is equivalent to sovereign funds or state / national royalties.

 

[igon value]

That favours shareholders, of which in many cases a high proportion are companies domiciled outside of Australia.

I'm not sure fundies receiving the bulk of dividends is equivalent to sovereign funds or state / national royalties.

I'm talking about Australia's tax take from a well head. Last I checked, it's around 70% of cash flow generated. That's a reasonable amount. That revenue generated gets redistributed through Australia's welfare and health system. People who argue for sovereign wealth funds or dividends to the people are arguing that either

a. that revenue cease being redistributed to the needy
b. Australia take more revenue.

We already have a petroleum resource rent tax - all of that is used to fund current spendings. Are people saying we should tax them more or that we should cease funding those spendings?

 

[baphomet]

Last time we tried the mining industry screamed blue murder and the Murdoch press went into an anti-Gillard meltdown.

Norway gets a staggering amount of royalties from their oil reserves in the North Sea and they have arguably the healthiest sovereign fund on the planet.

The majority of Australians could not give a rats toss bag what greedy multinational mining companies think.

Murdoch and fairfax have interests in mining companies. Hence it's hardly a surprise the 'anti Gillard media' had a cry.

Norway seems fantastic. I only recently discovered many Americans strongly dislike this apparent commi nation.

Interestingly the Alaska permanent fund (dividend) was set up only a couple decades after mccarthyism.


The treasury website claims

"
The Australian natural resources ... These natural resources are owned by all Australians..."

Hence all Australians should be making a annual lump sum, like Alaska

 

[skilts]

Since white settlement, rape of the landscape has been fashionable. Everyone has an dog-given right to perform this act, without hinder from pinko pansy NTTAWWTters and greenies.

 

[Scotland]

Where do you draw the line at what people 'deserve'?

There are mining operations in WA that are closer to SA/NT than they are to Perth. Do I deserve something from those more than someone in Darwin or Adelaide or Hobart? Or does everyone deserve an equal slice for holding Australian citizenship? What about if I move overseas, do I still deserve a piece of the pie?

Does a sense of entitlement only apply to things being dug up and sold? What about agriculture which is sustainable but does irreparable damage to the environment? What about the MCG? That's govt owned, do I get a slice of the gate takings?

 

[Seeds]

Australia is the world's leading producer of rutile, zircon,bauxite, iron ore and ilmenite, the second largest producer of alumina, gold, lithium, manganese ore, lead and zinc, the third largest producer ofuranium, and the fourth largest of silver, nickel and black coal.



Everyone in Alaska gets a dividend of the oil.

A minority of Australians get centerlink

Um no. If we collect taxes from mining then everyone else benefits as it means that the taxes everyone else has to pay to achieve a given level of tax revenue is reduced compared to a world where mining isn't taxed. Its basic maths.

 

[baphomet]

Um no. If we collect taxes from mining then everyone else benefits as it means that the taxes everyone else has to pay to achieve a given level of tax revenue is reduced compared to a world where mining isn't taxed. Its basic maths.

Why did Alaska give it's people a annual payment fund if this were the case

 

[DivideandMultiply]

I'm talking about Australia's tax take from a well head. Last I checked, it's around 70% of cash flow generated. That's a reasonable amount. That revenue generated gets redistributed through Australia's welfare and health system. People who argue for sovereign wealth funds or dividends to the people are arguing that either

a. that revenue cease being redistributed to the needy
b. Australia take more revenue.

We already have a petroleum resource rent tax - all of that is used to fund current spendings. Are people saying we should tax them more or that we should cease funding those spendings?

That is a lie.

Most natural gas and oil projects pay net zero tax. Given generous incentives few ever qualify for the petroleum resource rental tax.

Australia will soon be the 2nd largest producer of natural gas, yet earn less than 1 20th the tax take of Qatar. Given loosening regulation around imported labor and purchase of materials, the actual benefit is marginal.

 

[baphomet]

That is a lie.

Most natural gas and oil projects pay net zero tax. Given generous incentives few ever qualify for the petroleum resource rental tax.

Australia will soon be the 2nd largest producer of natural gas, yet earn less than 1 20th the tax take of Qatar. Given loosening regulation around imported labor and purchase of materials, the actual benefit is marginal.

Funny that

 

[DivideandMultiply]

$800 million per year on one of the largest gas booms ever seen.

Qatar will generate over 20 billion on similar output.

http://www.smh.com.au/federal-polit...lia-are-far-from-assured-20161013-gs1u8p.html

 

[baphomet]

So like half a crappy submarine

 

[igon value]

That is a lie.

Most natural gas and oil projects pay net zero tax. Given generous incentives few ever qualify for the petroleum resource rental tax.

Australia will soon be the 2nd largest producer of natural gas, yet earn less than 1 20th the tax take of Qatar. Given loosening regulation around imported labor and purchase of materials, the actual benefit is marginal.

If you're going to accuse someone of lying, it's best you provide the numbers.

And comparing Australia to Qatar, where workers are treated like animals.

 

[baphomet]

Are migrant workers treated well here?

 

[igon value]

Are migrant workers treated well here?

Compared to Qatar? Definitely.

 

[baphomet]

Compared to Qatar? .

no ,

not compared to bloody Qatar

Let's try and raise the bar somewhat

 

[igon value]

no ,

not compared to bloody Qatar

Let's try and raise the bar somewhat

The comparison in DivideAndMultiply's post was with Qatar.

They tax petroleum companies more? They also employ itinerant workers from the subcontinent in near slave like conditions, with no rights and it results in thousands of deaths.

We treat our workers much, much better.