On 13 January 2012, the Qld Treasurer Andrew Fraser delivered the Qld 2011-12 Mid-Year Fiscal and Economic Review (MYEFR). Proposals announced in the MYEFR include:
- deferral of the abolition of duty on the transfer of core business assets until the Qld Budget “can accommodate the abolition”;
- changes from 13 January 2012 to the duty treatment of prospecting and exploration permits and authorities (pending enactment of relevant legislative amendments to the Duties Act 2001 (Qld)). The Qld Government has released an information sheet containing further details;
- cash bidding for prospective exploration land from 2012-13. The proposal concerns coal and petroleum (including coal seam gas) tenure and tenements; and
- extension of the $10,000 Building Boost grant by 3 months to 30 April 2012.
The Qld MYEFR 2011-12 is available on Qld Treasury website.
Source: Qld Treasurer’s media release, 13 January 2012
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