Given that the Abbott Government stuffed up the MRRT and given that it would be difficult to administer anyway because of rampant transfer pricing and given that only the States can only levy Royalties on onshore natural resources,
may I suggest the following:
That the Commonwealth institutes a proper export licensing system whereby resources such as Iron Ore,
Coal, Gold & base minerals can be charged export taxes via these export licences.
Problems such as the domestic supply of LNG & issues arising from transfer pricing can be readily remedied.
EG: If BHP & Rio persist in transfer pricing via their Singapore marketing hub, just simply levy say $5/ton
export licensing fee on them . Its easy if we try.
If they do not want to play soft ball via the current system based on trust, then make them play hard ball via
a proper and fair export licensing regime.
