The Minerals Council of Australia welcomes the news the Morrison Government will not be acting on the recommendations of the Productivity Commission’s report Remote Area Tax Concessions and Payments.
The government’s decision highlights a thorough understanding of regional communities and a commitment to making Australia the global investment destination of choice for mining.
The Productivity Commission review of FBT exemptions and concessions applicable to remote area travel and accommodation is of significant importance to the minerals industry.
There are clear operational reasons why mining companies provide this accommodation-to attract a workforce. It is a necessary and unavoidable cost of doing business in remote locations. The imposition of FBT on the cost of providing that accommodation would have been an additional tax on remote area businesses and would have increased the cost of employment of the workforce.
The minerals industry is determined to deliver highly skilled, highly paid people who contribute locally to their communities.
This means stronger and more vibrant regional communities for the future.