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Extra resources for Geography - Worldmark Encyclopedia of the Nations - Asia and Oceania
Example text
In that year exports account for more than half of total coal production. The major market is Japan, which imports about 50% of Australia’s coal exports. At home, coal supplied 44% of the country’s energy as of 2002. 2 million tons; around 80% of Australia’s coal was bituminous and 20% was lignite. New South Wales and Queensland account for more than 95% of Australia’s black coal production and virtually all its exports. Australia has over 55 billion tons of recoverable reserves of bituminous coal, an amount that could satisfy production levels for about 260 years at current levels of demand.
Excise taxes are levied on alcoholic beverages, tobacco products, luxury cars, coal, kerosene, liquefied petroleum gas, and indigenous crude oil. As part of the new tax system, federal, state, and territorial governments agreed to fund a First Home Owners Scheme (FHOS) to offset the impact of the new GST on first-time home buyers. A grant of A$7000 was made available for first-time purchases of new and existing housing. On 9 March 2001 the grant was extended to contracts entered into before 1 January 2002.
39 E C O NO M I C D E VE L O P M EN T Commonwealth and state governments devoted special attention to the production and marketing of main primary products, and after 1920, legislation provided subsidies or other marketing aids to certain commodities. Federal and state aid was given to industries established in approved fields of manufacture during the 1970s. The Export Market Development Grant Acts of 1974 provided government assistance in the development of export markets. Recipients were eligible for up to 50% reimbursement for expenses incurred establishing foreign markets for domestic goods.