Qld must benefit from mining tax: premier
COAL companies could be slapped with a higher royalties tax if the Federal Government does not direct income from the mining super tax back into Queensland infrastructure.
At a press conference in Brisbane today, Premier Campbell Newman confirmed increasing coal royalties in Queensland would be "on the table" if the state did not benefit from the Federal Government's controversial mineral resources rent tax.
According to rates set in July last year, coal mining companies in Queensland are required to pay 7% of value up to $100 per tonne of coal and 10% of the value thereafter in royalties to the State Government.
Under the Federal Government's super profit mining tax, mining companies with an annual profit of $75 million or more will be required to pay 30% tax.
The Federal Government has said taxes paid by Queensland mining companies under the resources tax would be directed back into the Queensland community to fund infrastructure.
During a meeting with Prime Minister Julia Gillard in Brisbane after his landslide election win, Mr Newman said he discussed that promise.
"I told the Prime Minister over a week ago as long as they deliver on that then that's fine," he said.
Mr Newman said he would just have to wait to see what the Gillard government came up with.
"As long as the Federal Government demonstrates that the money from the mining super profits tax comes back to Queensland so we can build roads and other pieces of infrastructure I will be happy for that to occur," he said.
Otherwise, the Queensland Government would be in strong disagreement and might have to take "other measures", he said.
Mr Newman will take his strong opposition for Labor's taxes, including the carbon tax, to the Council of Australian Governments meeting in Canberra on Friday.
He said he was "incredulous" that federal Labor had not received the message from the Australian people.
"The reason why people are so upset with Labor is they keep hurting families," he said.
"All they have done at federal and a state level in the past few years is put (prices up) and a whole range of other taxes and charges and now they want to hit them with the carbon tax.
"The message I take to COAG is if you want to be a government that actually cares about people then stop taxing them as much."