The significant difference in other business Taxes Borne by the energy and mining industry groups is partly explained by the different treatment of petroleum resource rent tax ($1,401m) and extraction royalties ($2,194m). Under the Total Tax Contribution framework, petroleum resource rent tax is included as a tax whereas extraction royalties are not treated as a tax. (Refer “Survey for the Business Council of Australia and the Corporate Tax Association”)
Taxes Borne and Taxes Collected as a percentage of turnover
Taxes Borne and Taxes Collected as a percentage of turnover is a useful measure of what a company contributes to government tax receipts, having regard to their size as measured by turnover.
The median of total taxes to turnover of the survey participants was 11.7% in 2006 and 13.3% in 2005. Figure 7.3 shows the range of total Taxes Borne and Taxes Collected across survey participants.
This same data is consolidated by industry in Figure 7.4.
This same data is consolidated by industry in Figure 7.4.
Taxes Collected are negative for the mining industry group because as major exporters survey participants reported a significant GST refund which more than offset other Taxes Collected
