Tag: federal budget

Budget recognises mining role

Budget recognises mining role

The Australian Government’s 2020-21 federal budget has prioritised the development of northern Australia and Australia’s gas and resources sector by focusing on training and education, research and development in manufacturing and supporting industries. As part of its COVID-19 Economic Recovery Plan, the Government has announced a series of reforms to the Northern Australia Infrastructure Facility (NAIF) aimed at improving the speed and scope of projects to be funded, that will further unlock economic opportunities and more jobs across the north. The 2020-21 Budget also contains measures to support a gas-fired economic recovery, as well as initiatives to strengthen the resources and exploration sectors, and investing in regional communities undergoing water reform. Employment A new JobMaker hiring credit will aim to accelerate employment...

Industry welcomes 2016 Budget

Industry welcomes 2016 Budget

By Cameron Drummond THE allocation of government funding for mineral exploration and company tax cuts in this year’s Federal Budget has been welcomed by mining industry groups amidst tough economic conditions. The Minerals Council of Australia commended the budget’s strong growth policy and its move to lower company tax rate to 25 per cent for all businesses by 2026. “ balances a careful approach to spending, the maintenance of a strict approach to tax integrity and lays out a medium term plan to promote investment and growth,” Minerals Council chief executive Brendan Pearson said. “The move to a lower company tax cut will, over time, improve the competitiveness of our tax system and promote investment and well-paid jobs, including...