Rio Tinto pays $6.9 billion tax but not a cent superprofit

ONE of the world's most powerful mining firms poured more than $6 billion into the coffers of Australia's state and federal governments, but not a single cent was thanks to the former government's super profits tax.

British-Australian powerhouse Rio Tinto's has for the fourth year published a report on taxes paid on behalf of its international operations.

Rio's strong presence in Australia through aluminium refineries, smelters and power stations in Gladstone plus its Hail Creek and Kestrel coal mines in the Bowen Basin comes through strongly in the figures.

Out of a possible $8.3 billion in taxes paid worldwide, Australia scored 76% of it, or $6.9 billion.

The Queensland Government received $261 million mostly from royalties and payroll taxes, New South Wales' accounts took only slightly less with $248 million.

Coal-rich councils of Isaac and Central Highlands in Central Queensland plus Gladstone's local government each received somewhere between $2 million and $3 million.

However, none of the $3.5 billion worth of income taxes that Rio paid to the Federal Government, none went to Minerals Resource Rent Tax introduced by the former Gillard Government.

The tax - designed to pull extra funds from the booming resources industry - will be defunct from July 1 after the Coalition took power last year with the MRRT's destruction part of its election campaign.

The MRRT was criticised by opponents either for securing too little money from mining companies, or for demanding too much.


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