AppId is over the quota
The Queensland budget measures were described by the Treasurer as "strong medicine" and are a particularly bitter pill to swallow for those in the resources industry. In the interests of returning the Qld budget to surplus as soon as possible, the Qld Government has taken a number of steps to preserve and ensure the growth of the revenue base. In particular changes were made to: the Qld stamp duty rules - including expanding the duty base by making duty payable on direct and indirect transfers of Qld "Exploration Authorities" since 13 January 2012 and other Qld "Resource Authorities" from 21 September 2012, as well as a number of other changes; andthe Qld mining and petroleum royalty arrangements - including royalty payment arrangements and the rates for coal royalties.For transactions involving Qld exploration tenements that occurred between 13 January 2012 and 21 September 2012, action may be required to be taken under the new stamp duty rules by 22 October 2012.
To find out more, read our latest alerts on these topics or register for our briefing to be held in Brisbane office on Friday 12 October 2012 by contacting any of the contacts listed in the below.
Queensland Stamp Duty Changes Changes to mining and petroleum royalty arrangements in Queensland
