Minerals Council in NSW Praises the Payroll Tax

Minerals Council in NSW Praises the Payroll TaxThe New South Wales Minerals Council has said that the payroll tax, which is introduced by the State's Government, is beneficial for the business. The new payroll tax would decrease the business cost.

An estimation of 85% rise in State Mining Royalties has been made by the Government for the coming fiscal year. The mining industry will make the contribution of $1.77 billion to NSW in 2010-11. This contribution was $953 million in year 2009-10.

The State Revenue would also increase by $ 2.2 billion in the year 2010-11. Out of this, $815 million will be the income from the mining industry.

The minerals council has also supported an investment in Clean Coal Technology, which is worth $ 21.5 million. This invest will help in the development of technologies, which aim for low coal emission. According to the Minerals Council CEO, Dr. Nikki Williams, the new tax by the Government has the support from the mining sector.

"That money is what is used to underpin things like schools and police and hospitals and the necessary infrastructure", said Nikki.

According to her, this will help NSW Economy to recover from its budget deficits. Once again, the mining business in the country is turning as the core area of North South Wales economy.