Encouraging investment in the resources sector
“The Federal Government’s 2015-16 Budget is a sensible Budget that has the potential to improve confidence and encourage investment in the mining and mineral exploration sectors,” said Simon Bennison, Association of Mining and Exploration Companies (AMEC), CEO.
“It is pleasing that the Government has recognised the importance of Employee Share Schemes for start-up companies to attract talent.
“Following consistent recommendations by AMEC, the Government last year reversed changes that were made in 2009 which had significantly impacted many employees of mining and exploration companies.
“AMEC is continuing to work with the Government around the eligibility criteria for exploration companies to access start-up company arrangements.
“The Government has also recognised the importance of Northern Australia – its mineral and economic potential – and the need for infrastructure to unlock stranded assets and encourage investment in the region.
“The $5 billion Northern Australia Infrastructure Facility which will work with the private sector and Governments of Western Australia, Northern Territory and Queensland will create jobs and much needed regional infrastructure.
“This will in turn encourage investment in mineral exploration and mining projects in Australia’s North which will create jobs and Government revenue streams.
“The commitment to continue with the proposed reduction in the company tax rate to 28.5% on 1 July 2015 is also a positive message to industry and should be extended to all businesses. This would further aid business and investment confidence,” said Mr Bennison.