Anne Ruston (SA, Liberal Party, Minister for Families and Social Services) Share this | Hansard source

I'm actually not aware of the specific piece of advice you refer to from the Reserve Bank but one thing I can advise the chamber is that companies operating in Australia in our mineral and petroleum industries are subject to corporate income tax. As I said, in 2017-18 alone, $11.4 billion come into the Australian government coffers as a result of the taxation paid by the mineral and petroleum industries.

Royalty revenues are also received by state and territory governments for onshore mineral and petroleum production. It is my understanding that in the years 2018 and 2019 approximately $14 billion was realised by state and territory governments in royalty revenues from these types of projects. Maintaining a stable investment environment, including through our taxation system, is absolutely vital in ensuring we can continue to prosecute our resources for the benefit of all Australians.