A royalty represents a payment to the owners of a resource for...

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    A royalty represents a payment to the owners of a resource for the right to sell, dispose of or use the resources.
    Royalty is payable on the basis that the State generally has property in all minerals located on or below the surface of land and all petroleum produced to the surface of land or in a natural underground reservoir in Queensland.

    Figures released earlier this month by the Productivity Commission show the mining industry received $492 million in direct subsidies last year.
    But senior economist with the Australia Institute, Matt Grudnoff, says if you include tax concessions provided to mining companies, the amount of subsidy is almost ten times that figure.
    "The mining industry has the lowest rate of corporate tax because it has so many tax concessions," he said.
    "The average is about 21 per cent, the mining industry only pays 14 per cent.
    "While we have a big debate about the car industry and how much subsidies we give those, they're only getting about half a billion dollars a year whereas the mining industry gets four and a half billion dollars a year."
    Exploration and prospecting deductions increased by $220 million on last year while deductions for capital works expenditure rose by $127.5 million.
    Concessions for tax paid on crude oil condensate have decreased by $550 million following the Federal Government's decision to shift this tax to the petroleum resources rent tax.
    But Mr Grudnoff says the decrease has been compensated by a rise in fuel tax credits to the industry of $458 million.

    http://www.abc.net.au/news/2013-06-25/nrn-dist-mining-subsidies/4778042
 
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