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clock Created with Sketch. 27/06/22
00:20
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Originally posted by bakker:
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They cannot help themselves ...always pick on the so called dirty or unpopular industries ( which happen to keep every-ones lights and heating/cooling on ..but that doesn't matter to these turkeys. As others have mentioned , it is the precedent that has wider implication.Higher royalty rates for coal producers in Queensland • The Queensland Government as announced new progressive royalty rates for Queensland coal , with an effective date of 1 st July 2022. Under the current royalty system, there are only three tiers, with a top tier of A$150/t attracting a royalty rate of 15%. Three additional tiers have been introduced under the new scheme which would allow the Government to capture higher coal prices with higher royalty rates. The new rates will be 20 % for prices above A$175 /t , 30 % for prices above A$225 /t , and a 40 % tier that would apply when prices exceed A$300 /t . We note the spot coking coal prices are US$ 376 /t, equivalent to A$538/t. • We not e that the new royalty rates treat both thermal coal and coking coal equally, which would generally disadvantage coking coal producers whose products, with higher value in use, are sold at higher prices. Fig 1 New prog ressive royalty rates for Queensland coal Queensland coal royalties Old royalty % New royalty % Up to A$100 per tonne 7.00% 7.0% A$100 to A$150 per tonne 12.50% 12.5% A$150 to A$175 per tonne 15.00% 15.0% A$175 to A$225 per tonne 15.00% 20.0% A$225 to A$300 per tonne 15.00% 30.0% More than A$300 per tonne 15.00% 40.0%
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Just a short calculation.
(20min delay)