If the current opposition party in Australia wins the election, are polls have indicated they will (I’m still awaiting new polls taken after the change of PM, though), Australia’s resources sector is hoping for the initiation of tax concessions that will give aboost to exploration activity.
The Association of Mining and Exploration Companies, a body representing small resource companies, have been campaigning for a modified version of the flow-through shares scheme. A similar scheme in Canada increased exploration findings.
- University of Western Australia’s researchers have said Australia’s portion of global exploration for non-bulk commodities had almost halved from highs of 21 per cent in 2002 to 12 per cent of the global total in 2011
- But Canada’s share of global exploration spending rose from 14 per cent to 18 per cent during the same period.
The Coalition (currently in oppositon) supported the ‘flow-through shares scheme’ during the 2010 election campaign and its thought they would enact the legislation if elected
