Integrated Development Zones – the solution for our north

Gina Rinehart argues the federal government should offer tax breaks to help northern Australia grow. The Deputy Prime Minister Mr Barnaby Joyce is to be congratulated for bringing to Australians’ attention the needs and potential for the towns in the Pilbara to grow. Australia needs an investment boom in the wake of the pandemic, and given our trillion dollar debt, Australia needs practical initiatives like IDZ’s that will foster a boom in investment. Cutting tape and taxes and allowing Australians to get on with building their lives and our country with less government in the way is a vital part of this.

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Red dirt royalties keep WA in the black, but McGowan knows they won’t last forever

Royalties from iron ore to feed the steel mills of China have allowed Western Australia to emerge from the pandemic with a surplus while NSW and Victoria face years of growing debt. The mines in the Pilbara region will deliver Premier Mark McGowan $10.3 billion this financial year, allowing the resource state to record a $5.7 billion surplus and cut net debt for the third year running. The WA government earns more from iron ore than land tax, stamp duty and payroll tax combinedIron ore will deliver almost 90 per cent of WA’s royalty income, from mining and oil and gas extraction.

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UAE Corporate Tax law will continue incentives for free zone based entities

The UAE Ministry of Finance (MoF) has released a public consultation document inviting comments from stakeholders on the proposed legislation. A progressive step by the Ministry, which provides an opportunity for businesses to play a key role in formulating the UAE Corporate Tax law.

While there is no tax on individual income, income from activities carried out by individuals through a commercial license would attract the tax. Further, federal and emirate governments, their departments, and companies carrying out sovereign activities, companies engaged in the extraction of natural resources, charities, pension funds, investment funds (subject to conditions) would be exempt.

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Rising red tape under the Morrison government is strangling Australian business

Australia needs an investment boom in the wake of the pandemic. After two years (and counting) of missed opportunities, the government should deliver an aspirational Budget, and run a similarly spirited election, with bold initiatives that will foster a boom in investment. Cutting tape and taxes and allowing Australians to get on with building their lives and our country with less government in the way is a vital part of this. The Treasurer’s Thatcherite/Reaganite credentials remain to be seen. We can only hope for an improvement on last year’s Budget, which mentioned cutting tape twice, but providing subsidies 19 times.

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The Pilbara is a powerhouse of the Australian economy, so why have its major towns not thrived as well?

The vast Pilbara region in WA’s north has an annual economic output of more than $100 billion but in the coastal town of Port Hedland locals complain it’s a struggle to find a decent venue for dinner. Mr Carter said the lack of amenities was “absurd” given how much Port Hedland contributed to WA and the national economy. It’s an irony that has led many, including Deputy Prime Minister Barnaby Joyce, to ask why such a lucrative region is home to so few people and so few amenities.”We believe it’s untenable that in the 4,000 kilometres between Perth and Darwin don’t have a city of 100,000 people,” Barnaby Joyce told parliament this year.”We are investing in Port Hedland which, by tonnage is the biggest export port in the world … Port Hedland, though, has a population of merely 15,000 people. “We need areas such as this to become the Gladstones and the Newcastles of our north-west.”

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$100B BOOSTER

WA’s massive contribution to the nation thanks to booming resources sector. Treasurer Josh Frydenberg’s pre-Budget publicity blitz this month was an interview with The Sunday Times in which he praised WA’s contribution to an improved fiscal balance sheet via higher iron ore prices.Nearly $11b was contributed in State Government payments, up from $7b the previous year, with more than $24b contributed to the Federal Government, up from $18b in 2020-21.
“Our sector supports close to one in four full-time jobs in WA and at least one in 16 WA businesses have resource sector companies within their customer bases.

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Older are punished for working | Pension system changes needed to keep older Australians in work

“If the government exempted work income from the income test for those with limited savings it would boost their income and savings in retirement, and boost the productivity of the nation,” Mr Henschke said. “We will nudge millions of Australians into, not out of, work.” The idea has support from business groups and figures. Mining magnate Gina Rinehart said the change would help ease the nation’s skills crisis. “We are a supporter of the government changing its policy where pension arrangements are concerned, so that pensioners can work should they so choose, without onerous tax resulting from their decision to work,” Ms Rinehart said.

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Rinehart backs carbon tech play

A TECHNOLOGY that uses renewable energy-powered electrolysis at low temperature to convert carbon dioxide into reusable carbon and oxygen has been backed by Gina Rinehart’s Hancock Prospecting. Called Carbelec, the technology is being developed by researchers at the University of Melbourne. Those researchers claim the technology could be a game changer for steel makers.

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Top End landing for Strike Fighters

The federal government has ­relocated four F-35A Joint Strike Fighters to RAAF Base Tindal, southeast of Darwin, putting the nation’s most advanced combat jets on the frontline of Australia’s northern approaches. The fifth-generation multi-role fighters will take over from now-retired F/A-18A/B Classic Hornets, with 16 of the aircraft due to be based at Tindal by ­December 2023. Defence Minister Peter Dutton said the RAAF’s 75 Squadron would operate the jets from the strategically important location, which has become a defence and US engagement hub. “The Tindal-based F-35As will assure the ADF’s ability to deter or defeat threats to Australia’s interests and strengthen our ability to project potent air power into Australia’s immediate region,” Mr Dutton said.

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PNG Government Grants Special Economic Zone status to Central Cement and Lime Project

Managing Director Paul Mulder said “I greatly appreciate the leadership of the PNG Prime Minister & Minister for
Bougainville Affairs & Defence, Hon. James Marape, in the establishment of this SEZ, as it sets the right conditions for
large scale investment to thrive and catalyse down-stream processing in the SEZ that will particularly benefit the
people and the manufacturing industry in PNG.”

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