🧵The argument that Australia relies on resources is a bit of wank really
2022-23 our resources made $455 billion
Company tax was $42.5 billion
Royalties $31.5 billion
Total $74 billion
If we taxed like Norway, 78%, Australia would have made $354 billion in 22-23
🐝
#auspol
2022-23 our resources made $455 billion
Company tax was $42.5 billion
Royalties $31.5 billion
Total $74 billion
If we taxed like Norway, 78%, Australia would have made $354 billion in 22-23
🐝
#auspol
Comments
If we taxed like Norway resources would make up around 50% of our annual Budget every year & then we could legit say that Australia relies on our resources sector
Every single year.
Yes, you read that right.
🐝
#auspol
I worked FIFO for 2yrs & most high paid workers I worked with salary sacrificed & negatively geared properties to reduce their taxable income, paid minimum tax there too
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#auspol
Resources workers actually pay about the same tax as normal wage earners
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#auspol
Tax like Norway, these resources belong to the Australian ppl & they are truly getting the arse-end of the deal on every level
Simply not good enough
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#auspol