Eastern Australia Agriculture Pty Ltd (EAA) is the owner of drinking water entitlements at two properties in the lower Balonne area of the Condamine-Balonne region The Kia-Ora property can be found around 7km south of St. George, Queensland, along the Balonne River. The Clyde property is situated 10km south-west of Dirranbandi, Queensland. 18,841 hectares and has water entitlements of 36,705 megalitres, while “Clyde” is thought to total 18,743 hectares with drinking water entitlements of 30,289 megalitres.
EAA also appears to hold Queensland drinking water licences which allows it to harvest overland flows/flood waters from both properties. The Government’s been buying up water at record prices, leading to millions of dollars flowing to just offshore taxes havens. 79M ‘present’ of taxpayers money to a SE Qld irrigator was spent?
TODAY: He was also a expert for EAA 09/10 “on normal commercial terms”. TONIGHT: there’s a difference between ‘an interest’ & being paid as specialist. The Queensland Government denies being party to this drinking water sale. The Morrison Government is currently facing calls for an inquiry in to the Murray-Darling plan water contracts agreed upon off by former minister Joyce. Ghost Water – licences for unreliable/unverifiable amounts of temporary drinking water sold to government for use as environmental movement water. Qld Government, Business Queensland.
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Applications can be made for a drinking water licence for the capture of overland flow water. “A drinking water licence is an entitlement to consider drinking water which is attached to land therefore, unlike a drinking water allocation, it isn’t a secured asset in its right. Qld Government, Business Queensland. 2,745 per megalitre) Joyce was the Australian Deputy Prime Minister as well as Minister for Agriculture and Water Resources.
The first sale under the Labour Government was a result of an open up competitive tender, the 3rd and second sales were by unadvertised limited sensitive which excluded a competitive sensitive process. NOTE: In 2008 it appears that EAA sold 10,433ML from its water storage to the Murray-Darling Basin Commission for an unknown amount. The water purchased was for Over Land Flow (OLF) licences, which cannot be traded between irrigators, because they’re mounted on land.
They have no legal position or any recognition at a location other than where these were originally purchased. That is, there is apparently no legal basis for the Commonwealth to ensure it gets to the places it is intended to be used. First, taxes havens siphon taxable income from jurisdictions like Australia away.
This means either increasing the taxes burden on individuals and businesses, dealing with more personal debt, or cutting sociable services. These shenanigans are not always illegal. But what’s legal is not moral or economically sound always. Australia’s fiscal foundations are threatened by the erosion of the tax base by tricky tax tactics.
Aggressive tax planning can erode general public confidence in the tax system itself. In the end, one reason most of us pay the taxes we owe is that people believe we reside in a society where our fellow residents do the same. A remarkable new dataset released by the Australian Bureau of Statistics helps reveal this nagging problem. Across multinational firms operating in Australia, the bureau reports their operating profit and their taxable profit.
What is exclusive about these data is they are reported for firms with majority owners in various countries. So that it can be done to compare across countries, and have the question: which nation’s firms have the biggest gap between operating income and taxable profits? For the normal Australian company, the distance between operating revenue and taxable income is 30 %.
The shape is quite similar for multinationals whose owners reside in the United States (28.4 percent), UK (26.6 percent) and Japan (28.5 percent). But for some countries, it’s a different story. If you’re a Bermuda-owned multinational operating in Australia, then typically the gap between operating income and taxable income is 88 percent. If you’re a British Virgin Islands owned multinational, the decrease is 92 percent.