ANNOUNCEMENT 09 Apr 2013

In April 2013, the government of Australia announced changed incentives for foreign investors entering the country.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Official guidelines on the Magnetite Financial Assistance Program
http://www.dmp.wa.gov.au/documents/Magnetite_financial_assistance_program-Guidelines_for_Applicants.pdf


Inception date: 09 Apr 2013 | Removal date: 08 Apr 2016
Still in force

FDI: Financial incentive

 On 9 April 2013, Western Australia introduced the Magnetite Financial Assistance Program, introducing royalty payment rebates of up to 50% for the first year of magnetite production. Each mine in Western Australia is eligible for the programme but the rebate shall be determined on a case-by-case basis. The amount of the rebate is also determined on a case-by-case basis.
The programme will be in force for 3 years.
As magnetite is a specific compound of iron ore, only the 6-digit HS code 260111 was used for finding the affected trading partners. Investment in magnetite production in those trading partners may now be attracted to Western Australia.
 
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 09 Apr 2013 | Removal date: 08 Apr 2016
Still in force

FDI: Financial incentive

 On 9 April 2013, Western Australia introduced the Magnetite Financial Assistance Program, introducing royalty payment rebates of up to 50% for the first year of magnetite production. Each mine in Western Australia is eligible for the programme but the rebate shall be determined on a case-by-case basis. The amount of the rebate is also determined on a case-by-case basis.
The programme will be in force for 3 years.
As magnetite is a specific compound of iron ore, only the 6-digit HS code 260111 was used for finding the affected trading partners. Investment in magnetite production in those trading partners may now be attracted to Western Australia.
 
 

 
N/A
 
N/A