Now they are considering a higher fuel tax!

[bella_again]

Oh joy... 😕

http://www.abc.net.au/news/2014-05-08/jamie-briggs-signals-government-will-raise-fuel-taxes-in-budge...

[lakeland27]

LABOR frontbencher Bernie Ripoll says it would be unfair to raise taxes on high income earners without first cutting the $5.5 billion diesel fuel rebate for the mining industry.http://www.theaustralian.com.au/national-affairs/budget-2014/labor-frontbencher-bernie-ripoll-says-c...

[donnashuggy]

[crystal**flake]

Dont we still pay less for our petrol?

I think that is happening too, because we dont make enough ourselves and the plants are coming down by about 3? We will have to import more petrol.

[monman12]

• JARED OWENS
• The Australian
• May 08, 2014 12:02PM

"BILL Shorten has shied away from exploiting reports of a proposed increase in fuel excise, saying he will “wait to see the detail” of any proposal before declaring his position."

Where exactly has the fuel excise rise been "confirmed" DY?

nɥºɾ

[monman12]

"LABOR frontbencher Bernie Ripoll says it would be unfair to raise taxes on high income earners without first cutting the $5.5 billion diesel fuel rebate for the mining industry"

Ripoli would appear to have a grasp of economics similar to that of Swan, because  the figure for 2011-12 fuel tax credit claims apportioned to the mining  sector was ($m) 2,349.4

AFR: "the diesel fuel credit scheme, is worth $5 billion a year, of which miners claim 40 per cent." (for Ripoll that is $2 billion a year!)

Finally  "Similar to goods and services tax input tax credits, fuel tax credits remove taxation from business inputs. Their purpose is to avoid distorting business investment decisions and behaviour that would occur through taxing business inputs"

nɥºɾ

[j*oono]

I'm a bit shocked by Abbotts government.  It's like he's on a suicide mission.

Nearly everything he said before the election has trashed.

[i-need-a-martini]

---

@*crikey*mate* wrote:

on a slightly positive note, the big businesses such as mining will experience increased fuel costs too, won't they? and they would use an awful lot, I'd think.

---

I think you will find that the mining industry (and other industries such as manufacturing that consume a lot of fuel) get massive rebates for fuel as do big businesses running fleets.

The only people that this tax affects are ordinary Australians.

[colic2bullsgirlore]

http://www.abc.net.au/news/2014-03-31/joe-hockey-warns-of-wide-ranging-cuts-in-may-budget/5356838

Treasurer Joe Hockey has signalled wide-ranging cuts to come in the May federal budget, warning that all Australians will have to do the "heavy lifting".

The Government has just received the final report of the Commission of Audit - a document set to guide the drafting of the Government's first budget.

http://www.miningaustralia.com.au/features/bhp-sees-spike-in-profit-and-revenue-in-latest-1

BHP Billiton has recorded a 5.9% increase in revenue and a massive 82.9% spike in profit for 2013.

In its latest results, the global miner announced an increase in its year on year revenue to US$ 33.95 billion, and an enormous leap in profits for the year of US$ 8.1 billion compared to the previous period, although it was still a drop from in net profit from its June 2013 US$ 10.9 billion results.

http://www.abc.net.au/news/2014-05-05/budget-joe-hockey-moves-to-assure-miners-over-fuel-rebate/5429...

Treasurer Joe Hockey has moved to head off a damaging fight with Australia's mining industry, assuring them there will not be any cuts to the diesel fuel rebate in next Tuesday's budget.

Leaked confidential correspondence between top mining chief executives, obtained by the ABC, reveals deep anxiety within the resources sector.

http://www.acfonline.org.au/news-media/news-features/fueling-heat-tax-scheme-gone-mad

As miners’ revenue (and profit) has grown, their take of taxpayers’ money has increased accordingly

Each and every Australian who buys fuel (except LPG) pays an excise on it. In the case of unleaded, diesel, ethanol and biogas, the government takes a slice of between 38.1c per litre and 40.1c per litre (in the case of some diesel fuel).

It is a major source of government revenue, generating $16.3 billion in revenue in 2010-11, or about 5.6 per cent of the nation’s total tax intake.

Indeed, it would have been more had the Howard government, facing enormous public backlash over rising prices at the pump, not frozen the excise at its current 38.1c.

Ostensibly, that $16.3 billion is intended to be invested back into roads infrastructure and the common misleading perception is that it is so.

Based on this notion of fuel taxes paying for roads, there emerged the innocuous loophole, the fuel tax credit for businesses.

Come tax time, companies can claim every single cent of their fuel excise back simply because they drive on dirt and not asphalt.

The governing principal of this line of thought being that if a car (or truck) is driven, but not on roads, it ought not pay the tax that nominally pays for those roads.

In the Federal Government’s 2012-13 budget, $3.27 billion has been set aside for handouts like the Fuel Tax Credit that are aimed at the mining and transport industries alone (or 60 per cent of money spent on childcare support).

And that number is getting bigger every year, up from $1.2 billion in the 2005-06 financial year. In other words, as miners’ revenue (and profit) has grown, their take of taxpayers’ money has increased accordingly.

Here’s the kicker; according to the G20 leader’s summit in 2009, “eliminating fossil fuel subsidies by 2020 would reduce global greenhouse gas emissions in 2050 by 10 per cent.”

Unchecked, these public payouts to companies like BHP Billiton, Rio Tinto and Xstrata are set to grow to around $5.4 billion by 2016-17.

**bleep**

[tall_bearded]

I’m not too bright and therefore somewhat confused.

In reading your post I assumed that what you were justifying the retention of the rebate because while other business can claim a GST input tax credits the mining industry can’t, so in substitution they get a diesel fuel rebate.

Now I always thought the Diesel Rebate was a benefit in addition to GST tax credits which as limited to the mining industry.  That is, mining companies, just like any other business can claim the full range of GST tax credits, and then in addition to that, they can also claim a Diesel Fuel Rebate, which effective means that, unlike the rest of us they don't  pay excise of the fuel they use.

[nero_bolt]

You all want services, roads, hospitals etc etc  and welfare hand outs then the money has to come from somewhere. 

Modelling by NRMA for The Daily Telegraph shows an average motorist driving a Ford Falcon from Penrith, in the key marginal Liberal seat of Lindsay, into Sydney and back every day would pay an extra $30.49 in the first year, rising to an extra $159.69 in the fifth year.

In a worst-case scenario, a less economical car like a Toyota Hilux 4WD would cost an extra $72.40 to drive from Katoomba in the first year, increasing to an extra $379.24 in the fifth year.