Multinational oil and gas giants paying no petroleum resource rent tax

Date
    December 17, 2015
    The Age

Some of the biggest multinational petrol and gas companies operating in Australia – including Shell and Chevron – notched sales of nearly $30 billion last year but did not pay a cent in petroleum resource rent tax.   :(

Introduced by the Keating government, the tax was designed to share profits from Australia's oil and gas wealth with the public.   :)


Data released for the first time by the Australian Tax Office on Thursday showed the oil and gas sector as a whole paid $1.7 billion in PRRT in 2013-14.

BHP Billiton was the biggest contributor, paying $970 million from three of its petroleum divisions. Esso Australia paid $540 million and Woodside Energy $85 million.

But other players in the petrol and liquefied natural gas markets - Shell and Chevron - paid no PRRT in 2013-14.


Shell paid no petroleum resource rent tax in 2013-14.

Shell made sales of almost $25 billion in the same financial year, paying just $87 million in income tax on taxable profits of $1.2 billion and no PRRT.

The company said in a statement: "Shell's record capital investment in Australia in recent years has impacted tax liabilities - yet direct cash taxes in Australia amounted to around 38% of profits for the last five years, or some $3.6 billion.

"Shell is in a significant investment phase in the upstream business with several projects still in development and therefore not generating taxable income."


US-based Chevron made sales of $3 billion but paid no income tax in Australia and no PRRT.

The ATO also released figures on the mining resource rent tax - better known as Labor's mining tax - which was scrapped by the Abbott government. It raised less that $300 million in 2013-14.

Designed by economist Ross Garnaut in the late 1980s, the petroleum resource rent tax aims to tap "rents", or excessive returns. After all available tax deductions are taken, it is supposed to extract up to 40 per cent of profits from a project in recognition that companies have been granted the right to extract a finite national resource.


But there are a range of deductions related to exploration and capital expenditure that lower taxable income and PRRT exposure.

Fairfax Media revealed last month that PRRT revenue was projected to flatline for the next decade, despite $60 billion in gas-related investments coming into production during that period.

Figures from the Department of Industry, the ATO and Commonwealth budget papers, suggest the effective rate of PRRT being paid has plummeted from 24 per cent of total industry revenues in 2003/04 to barely 5 per cent in 2013/14.

This is forecast to fall further to about 2 per cent, compared with the $60 billion the gas sector will earn in sales in 2018/19.

When the $US54 billion Gorgon gas project off Western Australia – jointly owned by Chevron, Shell and ExxonMobil – was announced in 2007, Chevron and then WA treasurer Eric Ripper promised that Gorgon would deliver $17 billion in PRRT and company income tax.

Chevron recently dismissed a report by the Transport Workers Federation, insisting that the company does not avoid paying its taxes.

In releasing the data on Tuesday, ATO Commissioner Chris Jordan said a company not paying tax did not necessarily indicate tax avoidance.

"Any companies with unusual financial or taxation numbers are closely investigated by the ATO," he said.

Assistant Treasurer Kelly O'Dwyer said the ATO, which is cutting more than 4000 staff between 2014 and 2018, is resourced to tackle tax avoidance.

"The Australian people can be absolutely confident that the Australian Taxation Office have all the powers they need to ensure they are getting the information about the structuring and arrangements in these multinational companies," she said.

The campaign director of activist group GetUp!, Mark Connelly, said: "The polluting energy companies game the tax system to avoid paying their fair share, pay no price for polluting our air and water, and receive billions per year in subsidies from the community."   :(

The story has to be wrong  .... Maria lovestoflaphergums Costel will now come and tell us that they pay taxes. :D :D

.......more politics of envy and ignorance of the taxation system....I guess it sells newspapers  :(

Why do you equate not agreeing with how the tax system works to not understanding it?? Is that ignorance on your part?

It's a pity all the companies are foreign owned. One day the Libs and Labs might shake off that "Foreign Big Boy Envy" disease they're afflicted with year in year out. Such governments are prone to turn a blind eye since they keep telling us : "We need foreign investment". Sure! we'll always need foreign investment while ever the diseased Libs and Labs are in government


How much money does Australia really get from all these minerals ...

Australia is the world's leading producer of rutile, zircon, bauxite, iron ore and ilmenite, the second largest producer of alumina, gold, lithium, manganese ore, lead and zinc, the third largest producer of uranium, and the fourth largest of silver, nickel and black coal.

https://www.google.com.au/search?q=australian+oil+reserves&ie=utf-8&oe=utf-8&gws_rd=cr&ei=cSZ3VvSzOcbvmAW7rJv4Aw#q=australian+oil+reserves+map

John Smith wrote on Dec 21^st, 2015 at 8:24am:

The story has to be wrong  .... Maria lovestoflaphergums Costel will now come and tell us that they pay taxes. :D :D

Just carrying forward losses from previous years like the other 500 companies . The unfortunate thing is they're working within the boundries of the law , the [s]middleclass[/s] rich dodge pay it all,

So if they arent paying this tax, why is that so? Could it be because the actual tax laws include a whole lot of things you will never understand like capital investment costs?

Chevron is not a corner shop. It's a bit more complex than that. Of course a more complete picture would show what they have paid over the last 20 years.  But Pravda on the Yarra is more adept at telling only part of a story.

John Smith wrote on Dec 21^st, 2015 at 8:24am:

The story has to be wrong  .... Maria lovestoflaphergums Costel will now come and tell us that they pay taxes. :D :D

see, I told you! :D :D

John Smith wrote on Dec 21^st, 2015 at 8:35am:

Why do you equate not agreeing with how the tax system works to not understanding it?? Is that ignorance on your part?

So you disagree with the Keating designed PRRT?

lee wrote on Dec 21^st, 2015 at 10:11am:

John Smith wrote on Dec 21st, 2015 at 8:35am: Why do you equate not agreeing with how the tax system works to not understanding it?? Is that ignorance on your part? So you disagree with the Keating designed PRRT?

Yes.

wrote on Dec 21^st, 2015 at 6:04am:

Designed by economist Ross Garnaut in the late 1980s,

Didn't he have a hand in designing the Carbon Tax?

The author is just another ignorant fliptool that doesn't understand the difference between revenue and profit. A wonderful piece of journalism to inform the cattle that read this tosh that Shell and Chevron paid no prrt taxes on their $30 billion worth of sales. The silly nonce conveniently forgets to mention the $54 billion investment in new gas fields that are still under construction. Still amazed that no profit has been turned.

Bias_2012 wrote on Dec 21^st, 2015 at 8:46am:

It's a pity all the companies are foreign owned. One day the Libs and Labs might shake off that "Foreign Big Boy Envy" disease they're afflicted with year in year out. Such governments are prone to turn a blind eye since they keep telling us : "We need foreign investment". Sure! we'll always need foreign investment while ever the diseased Libs and Labs are in government How much money does Australia really get from all these minerals ... Australia is the world's leading producer of rutile, zircon, bauxite, iron ore and ilmenite, the second largest producer of alumina, gold, lithium, manganese ore, lead and zinc, the third largest producer of uranium, and the fourth largest of silver, nickel and black coal. https://www.google.com.au/search?q=australian+oil+reserves&ie=utf-8&oe=utf-8&gws_rd=cr&ei=cSZ3VvSzOcbvmAW7rJv4Aw#q=australian+oil+reserves+map

Is it really that much of a pity. Of course we need foreign investment. The Gorgon gas project alone is worth $54 billion in investments. Only a handful local corporations even have a market cap of this size let alone a balance sheet large enough to fund it.

We could just leave the gas in the ground, generate no construction and extraction jobs, no royalties, no prrt on eventual production and no addition to GDP.

John Smith wrote on Dec 21^st, 2015 at 8:35am:

Why do you equate not agreeing with how the tax system works to not understanding it?? Is that ignorance on your part?

Fair enough.  You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues?

Why do you think that any company would bother risk their shareholder's cash to invest in the industry?

The Govt sits back with no risk and steals the profits after the pain's been shed.

It was the same with the mining tax.  It potentially drove away capital investment dollars and the domestic jobs and ancillary economic benefits with it.

The ancillary jobs and economic activity generate far more benefits than the lost tax revenues.  Once the exploration costs are done, the country can then reap both tax and economic rewards for years to come.

Scare them off though with stupid socialist taxathons and you get neither.  :D



   

Swagman wrote on Dec 21^st, 2015 at 11:33am:

You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues?

I believe our resources should be nationalised

Are they paying MRRT?

John Smith wrote on Dec 21^st, 2015 at 11:40am:

Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised

John Smith Stalin  ;D :D

John Smith wrote on Dec 21^st, 2015 at 11:40am:

Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised

The state governments charge royalties.

John Smith wrote on Dec 21^st, 2015 at 11:40am:

Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised

They already are, you complete tool.

Swagman wrote on Dec 21^st, 2015 at 12:59pm:

John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D

I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison.

mariacostel wrote on Dec 21^st, 2015 at 1:38pm:

John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised They already are, you complete tool.

didn't you a little while ago tell me they belong to the states?  ;D ;D ;D ;D

crocodile wrote on Dec 21^st, 2015 at 1:23pm:

John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised The state governments charge royalties.

it doesn't work.

John Smith wrote on Dec 21^st, 2015 at 2:31pm:

mariacostel wrote on Dec 21st, 2015 at 1:38pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised They already are, you complete tool. didn't you a little while ago tell me they belong to the states?  ;D ;D ;D ;D

That does mean they are nationalised, drongo. They belong to the STATE.  It's even in the constitution.

John Smith wrote on Dec 21^st, 2015 at 2:31pm:

Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison.

Norway has a 25% GST too Jonathon.....

Swagman wrote on Dec 21^st, 2015 at 9:25pm:

John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon.....

Hasn't helped them that much. The place is so expensive that they even sell cucumbers by the slice.

mariacostel wrote on Dec 21^st, 2015 at 3:43pm:

John Smith wrote on Dec 21st, 2015 at 2:31pm: mariacostel wrote on Dec 21st, 2015 at 1:38pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised They already are, you complete tool. didn't you a little while ago tell me they belong to the states?  ;D ;D ;D ;D That does mean they are nationalised, drongo. They belong to the STATE.  It's even in the constitution.

so what nation do Ginas minerals belong too!

Swagman wrote on Dec 21^st, 2015 at 9:25pm:

John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon.....

and the highest standard of living .... your point?

crocodile wrote on Dec 21^st, 2015 at 9:50pm:

Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... Hasn't helped them that much. The place is so expensive that they even sell cucumbers by the slice.

they live better than you do

Does pecker even know what a Petroleum Resource Rent Tax is all about?

John Smith wrote on Dec 21^st, 2015 at 10:48pm:

crocodile wrote on Dec 21st, 2015 at 9:50pm: Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... Hasn't helped them that much. The place is so expensive that they even sell cucumbers by the slice. they live better than you do

You haven't a clue in the world how I live

John Smith wrote on Dec 21^st, 2015 at 10:47pm:

Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... and the highest standard of living .... your point?

You're making it for me.... ;D :D

John Smith wrote on Dec 21^st, 2015 at 10:47pm:

Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... and the highest standard of living .... your point?

And we have the second highest standard of living without all that sh1tty socialism.

Swagman wrote on Dec 22^nd, 2015 at 7:27am:

John Smith wrote on Dec 21st, 2015 at 10:47pm: Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... and the highest standard of living .... your point? You're making it for me.... ;D :D

so you agree we should nationalise our resources?

BigOl64 wrote on Dec 22^nd, 2015 at 6:00pm:

John Smith wrote on Dec 21st, 2015 at 10:47pm: Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... and the highest standard of living .... your point? And we have the second highest standard of living without all that sh1tty socialism.

and they have a gizzilion dollar surplus while we're in debt ....  :D :D

crocodile wrote on Dec 22^nd, 2015 at 5:57am:

John Smith wrote on Dec 21st, 2015 at 10:48pm: crocodile wrote on Dec 21st, 2015 at 9:50pm: Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... Hasn't helped them that much. The place is so expensive that they even sell cucumbers by the slice. they live better than you do You haven't a clue in the world how I live

I can take a guess.

John Smith wrote on Dec 22^nd, 2015 at 6:28pm:

and they have a gizzilion dollar surplus while we're in debt ....  :D :D

We had a surplus once too, wonder which idiot wasted that?


Not everyone looks for an endless supply of handouts, norway taxes the fkkk out of their citizens and companies just so they can hand it back as welfare.

I refer to earn a living and tell the government to fkkk off as often as possible.

BigOl64 wrote on Dec 22^nd, 2015 at 6:33pm:

We had a surplus once too, wonder which idiot wasted that?

I seem to remember the libs alternate proposal to the GFC wasn't that much cheaper .... which idiot missed that?


BigOl64 wrote on Dec 22^nd, 2015 at 6:33pm:

Not everyone looks for an endless supply of handouts, norway taxes the fkkk out of their citizens and companies just so they can hand it back as welfare. I refer to earn a living and tell the government to fkkk off as often as possible.

yes ... until something goes wrong, then you'll be begging the government for help :D :D

John Smith wrote on Dec 22^nd, 2015 at 6:26pm:

so you agree we should nationalise our resources?

......I'm thinking you want to nationalise our socialists with that policy   ;D

http://i17.photobucket.com/albums/b76/timbo2530/4752fc54-e254-4213-81fb-b9b87f7b9967.jpg

BigOl64 wrote on Dec 22^nd, 2015 at 6:33pm:

John Smith wrote on Dec 22nd, 2015 at 6:28pm: and they have a gizzilion dollar surplus while we're in debt ....  :D :D We had a surplus once too, wonder which idiot wasted that? Not everyone looks for an endless supply of handouts, norway taxes the fkkk out of their citizens and companies just so they can hand it back as welfare. I refer to earn a living and tell the government to fkkk off as often as possible.

Over 55% of their exports are Crude oil and LNG with a landmass of 386K kmsq

John Smith wrote on Dec 22^nd, 2015 at 6:36pm:

BigOl64 wrote on Dec 22nd, 2015 at 6:33pm: We had a surplus once too, wonder which idiot wasted that? I seem to remember the libs alternate proposal to the GFC wasn't that much cheaper .... which idiot missed that? BigOl64 wrote on Dec 22nd, 2015 at 6:33pm: Not everyone looks for an endless supply of handouts, norway taxes the fkkk out of their citizens and companies just so they can hand it back as welfare. I refer to earn a living and tell the government to fkkk off as often as possible. yes ... until something goes wrong, then you'll be begging the government for help :D :D

Actually I have had sh1t go wrong, guess what, I sorted it out my self; it's called being an adult.

Life isn't an endless series of government handouts. It is accepting adversity and overcoming it on your own.



No  everyone expects to be spoon feed from the time they are born until they die, only the losers of this world.

BigOl64 wrote on Dec 23^rd, 2015 at 7:58am:

John Smith wrote on Dec 22nd, 2015 at 6:36pm: BigOl64 wrote on Dec 22nd, 2015 at 6:33pm: We had a surplus once too, wonder which idiot wasted that? I seem to remember the libs alternate proposal to the GFC wasn't that much cheaper .... which idiot missed that? BigOl64 wrote on Dec 22nd, 2015 at 6:33pm: Not everyone looks for an endless supply of handouts, norway taxes the fkkk out of their citizens and companies just so they can hand it back as welfare. I refer to earn a living and tell the government to fkkk off as often as possible. yes ... until something goes wrong, then you'll be begging the government for help :D :D Actually I have had sh1t go wrong, guess what, I sorted it out my self; it's called being an adult. Life isn't an endless series of government handouts. It is accepting adversity and overcoming it on your own. No  everyone expects to be spoon feed from the time they are born until they die, only the losers of this world.

yeah big ol ... you're my hero

and then we have reality

John Smith wrote on Dec 23^rd, 2015 at 8:27am:

BigOl64 wrote on Dec 23rd, 2015 at 7:58am: John Smith wrote on Dec 22nd, 2015 at 6:36pm: BigOl64 wrote on Dec 22nd, 2015 at 6:33pm: We had a surplus once too, wonder which idiot wasted that? I seem to remember the libs alternate proposal to the GFC wasn't that much cheaper .... which idiot missed that? BigOl64 wrote on Dec 22nd, 2015 at 6:33pm: Not everyone looks for an endless supply of handouts, norway taxes the fkkk out of their citizens and companies just so they can hand it back as welfare. I refer to earn a living and tell the government to fkkk off as often as possible. yes ... until something goes wrong, then you'll be begging the government for help :D :D Actually I have had sh1t go wrong, guess what, I sorted it out my self; it's called being an adult. Life isn't an endless series of government handouts. It is accepting adversity and overcoming it on your own. No  everyone expects to be spoon feed from the time they are born until they die, only the losers of this world. yeah big ol ... you're my hero and then we have reality

No need to fawn over me, not a hero, but not a cradle to grave, free loading, scumbag socialist either.


I get that you have no concept of looking after yourself, as your whole life is about accessing government handouts every time your life falters.


Adults look after themselves and others, children get looked after by others.

John Smith wrote on Dec 22^nd, 2015 at 6:28pm:

crocodile wrote on Dec 22nd, 2015 at 5:57am: John Smith wrote on Dec 21st, 2015 at 10:48pm: crocodile wrote on Dec 21st, 2015 at 9:50pm: Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... Hasn't helped them that much. The place is so expensive that they even sell cucumbers by the slice. they live better than you do You haven't a clue in the world how I live I can take a guess.

And that's all you can do.

BigOl64 wrote on Dec 23^rd, 2015 at 9:31am:

I get that you have no concept of looking after yourself, as your whole life is about accessing government handouts every time your life falters.

really? It might be impressive, except that you've probably received more handouts in your life than I have ever gotten

crocodile wrote on Dec 23^rd, 2015 at 9:45pm:

John Smith wrote on Dec 22nd, 2015 at 6:28pm: crocodile wrote on Dec 22nd, 2015 at 5:57am: John Smith wrote on Dec 21st, 2015 at 10:48pm: crocodile wrote on Dec 21st, 2015 at 9:50pm: Swagman wrote on Dec 21st, 2015 at 9:25pm: John Smith wrote on Dec 21st, 2015 at 2:31pm: Swagman wrote on Dec 21st, 2015 at 12:59pm: John Smith wrote on Dec 21st, 2015 at 11:40am: Swagman wrote on Dec 21st, 2015 at 11:33am: You don't agree with an exploration company being able to claim it's legitimate exploration expenses against it's revenues? I believe our resources should be nationalised John Smith Stalin  ;D :D I was thinking more off along the lines of Norway, but I can see why you'd avoid that comparison. Norway has a 25% GST too Jonathon..... Hasn't helped them that much. The place is so expensive that they even sell cucumbers by the slice. they live better than you do You haven't a clue in the world how I live I can take a guess. And that's all you can do.

of course ... unless you want to tell me your real name.

However the comment was not meant to be taken personally ... they generally live better than we do.