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Prosper’s PRRT submission

by Dr Cameron Murray Summary 1. Successful reforms of oil and gas resource taxation that reclaim the public’s rightful share of resource rents will be vigorously contested with extensive lobbying and campaigning. The oil and gas industry is also likely to challenge...

It is still land, even underwater.

The High Court of Australia has affirmed the right of a west Tasmanian council to levy rates on the seabed. It is still land, even underwater. Council saw the land under eight marine farming leases as ‘rateable land’, Tasmania’s Valuer General declined to value them...

Peter Costello’s indefensible legacy

On Friday, Peter Costello used Fairfax to tell us how handsome he is and how splendidly the Future Fund he chairs is performing. He was responding to fellow establishment figure Howard Mitchell’s comparing its returns against the Alaska Permanent Fund. The whole...

Find me a true prophet!

The Barnett government in WA is advertising for someone to forecast what its tax and royalty revenues will be. Earlier official predictions, notably on iron ore royalty revenue, have proven wildly inaccurate. The advertisement specifically calls for macro-economic and...

WA budget wins Golden Banana Award

West Australia’s Barnett government has just handed down its budget. It is the ugliest baby I have ever seen. The AFR reports: All key financial measures have been blown apart in the state budget, with net debt (above $30 billion) cash deficits (above $5...

Australia’s newest taxpayer

  Linc Energy today announced a major shale oil and gas discovery around Coober Pedy in South Australia.  Unrisked prospective reserves have been separately estimated by two independent consultancies at 103 and 233 billion barrels of oil equivalent. That is an...

Welfare offers rich pickings for the wealthy

By Philip Soos, Deakin University A few weeks ago, a Deakin University academic, Martin Hirst, made some interesting comments about the politics and economics of class warfare and redistribution. He correctly noted that the accusations of class warfare by Coalition...