Question to any lawers out their. Can SMR sue the Qld govt given SMR would have based their revenue stream on previous royalty rates. And these latest royalty bars throws all their desire to expand will cause second thoughts:
New royalty tiers will be introduced:
20 per cent for prices above $175 per tonne
30 per cent for prices above $225 per tonne
40 per cent for prices above $300 per tonne
Another question: are royalty payments tax deductible from Comapny profit tax of 30%? Because if they are not, sales above $300 would be:
40% royalties + 30% company tax. Leaving the company 30 cents in the dollar!
Plus how many international companies would now consider expanding production in their other mines in other parts of the world in times of high prices and reducing production in QLD? How many foreign shareholders in Australia miners will now dump their shares as is now happeing to SMR and move to other coal companies (with no interest in QLD) with greater profit growth?
Increase in Queensland Royalties, page-19
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