Australia’s Mining Industry Contributes Record $43B To Nation’s Coffers
New figures show that the return to the community from Australia’s mining industry has again hit record levels with a combined $43.2 billion in company tax and royalties paid in financial year 2020-21, a 16 per cent increase from the $37.3 billion contributed in the previous period. Company taxes paid reached a new record high of $26.5 billion and royalties also reached a high of $16.7 billion in 2020-21 contributing significantly to federal, state and territory governments at a time when they needed it most during the COVID-19 pandemic. The record company and royalties payments are highlighted in an Ernst & Young report commissioned by the Minerals Council of Australia (MCA) which also shows that in the last decade (between...
