OPTION 3, ground floor:
Green: civic hall; blue: library; purple: front/desk lobby; orange: CVC
administration (10 staff, 30 on new level); white: innovation hub; grey: core
(lifts and shared amenities). Image: CVC from Clarence Valley Independent, 10 April 2019
|
Showing posts with label coastal development. Show all posts
Showing posts with label coastal development. Show all posts
Monday 3 June 2019
Clarence Valley Council to do away with dedicated council meeting chamber in Maclean?
Clarence Valley Council, media release, 28 May 2019:
Your
views sought on Maclean community hub
LOWER
Clarence residents are being offered the opportunity to shape what the future
of community facilities in Maclean might look like.
Currently
facilities like the library, council offices, the civic hall and community
services are spread across the town, but the Clarence Valley Council is now
investigating bringing those together while making improvements to the civic
hall.
Mayor,
Jim Simmons, said the whole of the Lower Clarence was growing and community
infrastructure needed to grow to keep pace with it.
“Maclean
is the geographical centre of the Lower Clarence, so it makes sense to have a
central hub for many community assets,” he said.
“At
the moment we are just investigating, but we would like the community to be
involved and to give us their input.
“Council
staff has put together a web page (https://www.clarenceconversations.com.au/maclean-community-precinct)
where
people can have a look at a range of concept plans and offer their views.
“The
more people who put their thinking caps on and offer suggestions the more
likely we are to come up with something fantastic.”
Cr
Simmons said once a final concept was decided, council would seek funding to
take the project to the next step.
Consultation
is open until June 30.
Release ends
Clarence
Valley Independent, 10 April 2019:
The consultant has
estimated costs for each of the three options, any of which, when adopted, will
result in the hub being contained within the boundaries of the current CVC
chambers and the civic hall.
Councillors were advised
that the plan “addresses the current and future usage of council buildings” and
that the completed concept would “function as a community hub, where people
gather for a range of community activities, programs, services and events”.
OPTION 1: cost
$12,963,000 or $4,883 per m2; Modification to the existing civic hall;
Demolition of existing offices on site; and, Refurbishment of existing CVC
administration building with a library, reducing the size of administration to
leave enough space for 40 CVC staff.
OPTION 2: cost $15,945,000
or $4,053 per m2; Modification to the existing civic hall; Demolition of
existing offices on site; Refurbishment of existing CVC administration
building; and, New build library with car parking under.
OPTION 3: cost
$23,739,000 or $5,162 per m2; Modification to the existing civic hall;
Demolition of existing offices on site; and, Refurbishment of existing
administration building, including a new level and roof, with a library and
event spaces – this option the concept plan states, will provide an “expanded
innovation hub, compared to other options”.
Options 1 and 3 include
“new green space for public events, with buildings activating off the new
area”; and, “accessibility upgrades to improve the new library fit-out, [which]
will also add accessibility to the administration area”.
The report to council
stated: “The Concepts presented are for the purpose of seeking grant funding.
“Prior to any works
taking place, further community engagement and situational review (facility
usage, sustainability, community need, etc.) would be required to inform final
design decisions.
“…The current asset
management requires the upkeep of 3 properties and 4 facilities.
“The finalised proposal
would reduce this to 2 properties and 2 facilities.”
Sunday 21 April 2019
Awabakel land dealings saga continues
Newcastle
Herald, 7
April 2017:
Disgraced former
assistant tax commissioner Nick Petroulias has failed in a bid to scuttle a
corruption inquiry into his land dealings with the Awabakal Local Aboriginal
Land Council.
In March, Mr Petroulias
applied for the ICAC inquiry to be abandoned, arguing it was based on
"trivial" matters. He claimed he had been treated with
"bias" and "denied procedural fairness" during public
hearings, including "by reason of [his] mental health impairment".
Mr Petroulias also
tendered interviews he had recorded with witnesses - including former Awabakal
board members Richard Green and Debbie Dates - to support his case.
ICAC Commissioner Peter
Hall QC threw out the application on Wednesday, finding Mr Petroulias had not
substantiated his allegations.
"Mr Petroulias
asserts that the real purpose behind the inquiry is to improperly cause damage
to his reputation," Commissioner Hall noted. "There is no evidentiary
basis for what is an entirely unsupported assertion."
The last fortnight of
public hearings will begin on May 6.
The ICAC inquiry began
over 12 months ago, and is probing four deals to sell off Awabakal land, in
which Mr Petroulias is alleged to have played a "central role".
SPECIAL INVESTIGATION:
Note:
Nick Petroulias mentions on North Coast Voices.
Thursday 11 April 2019
When local people power has a win
The rejection of a $25 million development at Byron Bay’s
Ewingsdale Rd for a 282-lot subdivision was met with thunderous applause.
Villa World’s plan for a controversial development was
unanimously rejected by members of the Northern Joint Regional Planning Panel
at a meeting on Monday.
It was the second DA for the West Byron site to be
refused by the panel, as a $40 million development put forward by West Byron
Landowners Group was rejected earlier this year.
Numerous speakers pleaded with the NRPP on many grounds,
including that they “did not want a Gold Coast” in Byron Bay.
The proposal was refused on 10 grounds including: adverse
impacts to surrounding properties; a significant visual impact and undesirable
impact on the street scape inconsistent with the northern entrance to Byron
Bay; the development was likely to have had adverse impacts on threatened
species and ecosystems; no adequate discharge of storm water and was not considered
in the public’s interest.
Echo
NetDaily, 9
April 2019:
No social or
environmental license
Newly reelected MP
Tamara Smith said this another great win for our community and people power.
‘The thousands of community submissions and actions highlighting the
fundamental flaws in developing this land have successfully culminated in the
NRPP rejecting both subdivision plans – against the odds,’ she said.
‘With the rejection of
both the West Byron subdivision applications by the NRPP the developers should
immediately approach the State government and request that they buy the land
and restore it to the Cumbebin Swamp Reserve.
Ms Smith said there is
no social or environmental license for a subdivision of the swamp land known as
West Byron. ‘So why waste more money on legal battles when the community is
utterly opposed.
‘Restitution is on offer
for the landowners and they should jump at the chance to be made whole and walk
away. They need only look to Condon Hill at Lennox to see decades of iconic
land ownership that has never passed muster to see development on it. Get out
now is my advice.
‘I strongly advise Byron
Shire Council to shelve any idea of a reduced sub-division and instead
respectfully ask them to help me actually deliver what the community wants – No
West Byron Mega-development.”
Justifiable opposition
Former Byron Shire Mayor
Jan Barham also spoke to the panel. She said she wanted to acknowledge the
amazing efforts of the community in their justifiable opposition to the
inappropriate proposals for the West Byron lands.
‘This development fails
on every point,’ she said. ‘From the destruction of biodiversity and the threat
to the local koala population and wallum froglet, the filling of a flood prone
area, likely negative impact on the Belongil Creek and the Cape Byron Marine
Park and further traffic chaos on Ewingsdale Road, that will not be alleviated
by the bypass.
‘I’m confident these
points have been raised in sufficient detail in the submissions to inform a
refusal.’
Ms Barham summed up the
general feeling on the day. ‘The refusal of Villa World by the Planning Panel
alongside the previous West Byron refusal, justifies years of commitment by our
community to protect and preserve our special place, with evidence, passion and
genuine concern for the future,’ she said after the decision was announced.
‘It makes me feel so
proud to be a member of an activist community who knows the value of standing
up for what we believe in and thankfully, this time, the independence of the
process delivered the right outcome.
‘Well done to everyone
who took the time to be involved, no doubt there will be more challenges to
come but the refusals vindicates us and our role as protectors.’
Tuesday 9 April 2019
Stevens Holding gets development approval on Iluka large lot adjacent to World Heirtage listed forest from Australian Govenment Dept. of the Environment and Energy
Australian Government Department of the Environment and Energy: APPROVAL lIuka Residential Subdivision, Hic... by clarencegirl on Scribd
https://www.scribd.com/document/404969621/Australian-Government-Department-of-the-Environment-and-Energy-APPROVAL-lIuka-Residential-Subdivision-Hickey-Street-lIuka-NSW-EPBC-2017-8003It should be noted that many of the conditions in this federal government approval only last for the life of the community title agreement. An agreement which can be altered or extinguished by lot holders as little as two years into the agreement.
Labels:
coastal development,
Iluka
Thursday 4 April 2019
NSW Office of Environment and Heritage is being dissolved. More truthful version – the regions are being scr$wed over to allow Berejiklian Government’s mates a freer hand to develop coastal NSW to death
The
Sydney Morning Herald,
2 April2019:
A government spokeswoman
said the restructuring would enable the administration "to better serve
the people of NSW".
"For the first
time, we have a combined Energy and Environment portfolio and this new
structure will ensure the government can take a holistic approach to this
issue," she told the Herald. "The functions currently performed
by OEH will continue.”
Among staff, though, the
worry was that the oversight separately developed and funded for years would
now be subsumed in the expanded Planning cluster, with job losses one
consequence.
Rob Stokes, a former
environment minister, returns as Planning Minister as part of the government's
post-election reshuffle. Matt Kean will be the new Energy and Environment
minister….
One senior staffer told
the Herald OEH had often provided a dissenting view to Planning, such
as when new housing projects in the Sydney Basin threatened the dwindling
natural reserves. Remaining koala corridors, for instance, were among the
habitats at risk.
Work that had previously
been conducted by inhouse OEH experts was already being diverted to external
consultants - a process staff worry will accelerate with the bureaucratic
overhaul now under way.
"There has already
been a strong shift away from the environment having its own voice
already," the staffer said.
Penny Sharpe, acting
Labor leader and environment spokeswoman, said NSW had now become the only
state in Australia without an environment department.
"One of the first
acts of the Premer - after talking a lot about the environment during the
election - is to abolish the Office of Environment," Ms Sharpe said.
"This is a terrible
outcome for the environment of NSW and it's a betrayal for [voters]," she
said. "We know it was a very important, top-order issue for many,
many people."
The environmental
problems facing the state include more than 1000 plant and animal
species threatened with extinction, an 800 per cent increase in
land-clearing during the past three years, and waterways "that are in
crisis", Ms Sharpe said.
Sunday 31 March 2019
In which Clarence Valley Council fails to take due consideration of biodiversity & only pays lip service to potential cultural landscape when voting on an inadequately researched council master plan
When the regular monthly meeting of predominately white, middle-aged male, elected councillors in a NSW local government area again deliberately choose to have the meeting opened with a prayer* by yet another 'ordained' representative of one of the Protestant religious institutions named in the Royal Commission into Institutional Responses to Child Sexual Abuse, it can only go downhill from there - and it did.
Predictably Cr. Williamson sought to close down debate at the earliest opportunity with regard to any alternative approach to planning issues surrounding adoption of a master plan on council-owned operational land.
Just as predictably Cr. Baker displayed a level of ignorance concerning everything from how far a 10 km radius surrounding airport land actually stretched (seems he believed it went as far as est. 25kms southeast to Wooli beach) through to the professional conduct of accredited ecologists and motives behind their reports ( a subject on which he sounded more than a little paranoid).
However, the incident that would have had regular council watchers sitting up in their seats occurred when the council general manager rather aggressively inserted himself into the debate uninvited and without permission, by directing a question to an elected councillor.
Which immediately raised the question - has he caught a bad case of the dreaded Greensill-itis and if so can it be cured?
The Daily Examiner, 28 May 2019, p.1:
Clarence Valley Mayor
Jim Simmons has apologised for a procedural error which led to a councillor
walking out of the chamber during a heated debate.
At Tuesday’s Clarence
Valley Council meeting Cr Greg Clancy accused the council of gagging debate on
a proposed Master Plan for the Grafton Regional Airport, before departing from
the chamber without seeking leave.
Cr Clancy had moved a
motion calling for environmental reports and information about Aboriginal
heritage in the area to be included in the plan, which sparked a fierce
argument among the councillors.
After about an hour of
questions and debate Cr Richie Williamson, moved the motion be put, but this
sparked an outbreak of interjections.
“What, are we being
gagged right down the line?” interjected Cr Peter Ellem.
Mayor Jim Simmons
adjourned the meeting for 10 minutes to seek advice on the matter.
“When the meeting
resumed Cr Clancy came in to gather some things and I did apologise to him at
the time, but he didn’t stay.”
Cr Simmons said he
didn’t think council would act on some strong language Cr Clancy used at the
time.
“Greg is a very strong
advocate for the environment and I can understand he was disappointed how
things were going,” he said.
“I’m very disappointed
how things panned out and other than some language about gagging debate, I
can’t really recall what was said.”
Cr Simmons blamed
himself for the mistaken ruling, which inflamed the situation.
“What I said didn’t help
the situation and I take full responsibility for that,” he said.
He said the council code
of meeting practice required councillors to seek permission to leave the
chamber early, which Cr Clancy did not do, but he did not think councillors
would seek to take this further.
“In my view it would
have been better for Greg to stay in the chamber,” he said.
“Councillors voted
against his motion, 5-3 I think from memory, so it was a close thing.”
Cr Simmons said the
meeting did approve the plan on a motion from Cr Ellem, which called for
involvement of the Ngerrie Local Aboriginal Land Council in any development
planning for the site.
Clarence
Valley Council posted the 26
March 2019 podcast of this meeting on its website where it will remain for twelve months and, at approx. 2hrs 4 mins into the podcast the debate of Item 15.031/19 can be heard - but don't expect to hear the entire debate.
Because it appears that at a vital moment in his response to being improperly gagged by the mayor Cr. Clancy did not have his microphone turned on.
I have been given to understand that one of his observations was words to the effect that democracy is dead in the Clarence Valley.
An observation that in my opinion is frequently applicable to both local and state governments.
Because it appears that at a vital moment in his response to being improperly gagged by the mayor Cr. Clancy did not have his microphone turned on.
I have been given to understand that one of his observations was words to the effect that democracy is dead in the Clarence Valley.
An observation that in my opinion is frequently applicable to both local and state governments.
* It should be noted that Cr. Clancy did not agree with a 2017 change to Clarence Valley Council's Code of Meeting Practice which formally established an opening prayer as well as a rota of ordained Protestant ministers praying over the elected councillors and members of the vistors' gallery at the start of each ordinary monthly meeting.
Sunday 17 March 2019
Rate of land clearing in the Orara Valley causes community concern
Orara Valley NSW: Image from Trip Advisor |
The Daily Examiner, 13 March 2019, p.4:
Communities across the
Orara Valley have expressed outrage at the loss of mature trees in their
neighbourhood.
Fed up with tongoing
clearing, a community meeting has been organised for 3.30pm this Sunday at Nana
Glen Community Hall.
Posts on a number of
Facebook pages including the Glenreagh Community page reflect the growing anger
at the seemingly unregulated clearing taking place to make way for intensive
agriculture.
Tania and Gerry O’Connor
live nearby a stand of blackbutts recently taken down north of Nana Glen and
are concerned at how rapidly and irreversibly the landscape of the valley is
changing.
“The local council does
not seem to be keeping up with the fast-paced changes. It is sad to see
100-year-old trees bulldozed. When the first trees were cut across the road we
contacted council who informed us there was nothing they could do,” they said.
They contacted the
Environmental Protection Agency which stated that due to the zoning, the
clearing was legal.
“We are not against
farming, we know we live in a rural community but the system of checks and
balances seems to be outdated or non-existent.”.....
Labels:
coastal development,
flora and fauna,
land clearing,
Orara Valley,
trees
Friday 15 February 2019
Clarence Valley 2019: keeping the Clarence River Estuary healthy for future generations
“like other heavy
fabricating sectors shipbuilding involves the use of materials and
manufacturing practices that can impact on the environment, can contribute to
climate change”
[OECD Council Working Party on Shipbuilding
(WP6), November 2010]
“Shipyards are
dangerous construction zones with many worker hazards. Shipbuilding, repair,
cleaning, and coating use toxic chemicals and hazardous or flammable materials.
These activities also can pollute water directly or through runoff. Repairs may
require emptying dirty water from a ship’s ballast and bilge tanks into the
surrounding waters….. Shipbuilding and ship repair use toxic chemicals that
include chromium,
copper, lead,
and nickel. Ship cleaning activities use chemicals that include copper,
hazardous or flammable materials, heavy metals, and solvents.
They release lead, particulate
matter, volatile
organic compounds, zinc, and other air
pollutants.” [NIH U.S. National Library
of Medicine, Boats & Ships, retrieved 18 February 2019]
If it wasn’t
bad enough that barely two years ago Lower
Clarence communities still had a flimflam man and then a set of dodgy
companies (mentioned in a NSW Independent Commission Against Corruption investigation
in 2018) trying to push for large scale industrialisation of Clarence River
estuary – now Clarence Valley Council apparently attracted by the lure of vacant crown land up for grabs appears to be joining the push to industrialise-and-be-damned if these little
gems in its “Clarence Valley Regional Economic Development Strategy 2018 -2022”
are any indication.
These are excerpts from that document:
Clarence Valley’s key
endowments lie in its coastal, riverine and hinterland amenity; arable soils
and favourable climate; access to Sydney and Brisbane via the Pacific Highway;
and the ability to bring new industrial land to market cost effectively…..
Industrial Land -The
Clarence Valley has seven industrial estates open for business and far more
potential development sites compared with neighbouring councils…..
Sustaining a ready
supply of zoned and serviced industrial land is a strategic priority for
supporting growth in these specialisations, with marine precinct proposals……
•Meet emerging
industrial land use opportunities in a timely way •Develop a marine precinct
proposal •Develop a project portfolio of enabling infrastructure for industrial
sites, including the marine precinct proposal…..•Develop a Port of Yamba Strategy…….
Develop a marine
precinct proposal
•Develop a project
portfolio of enabling infrastructure for industrial sites, including the marine
precinct proposal
•Build on the Transport
Precinct Feasibility Final Report to develop road investment priorities
•Review and complete
land use planning through collaboration with neighbouring councils
•Partner with local
industries and training providers to align training courses to industry’s needs
•Advocate for a marine
manufacturing SkillsPoint
•Identify and cost
options for better Pacific Highway connections
•Advocate for progress
on strategic priorities for the Port of Yamba and Summerland Way
•Develop a Port of Yamba
Strategy
•Develop Yamba Road
& Harwood Road business cases…..
The Clarence
River estuary covers an 800 sq. kilometres floodplain and key environmental
indicators for this estuary’s health include water quality, riverbank vegetation, the
number and distribution of fish species, as well as the presence of macroinvertebrates
and plankton.
The estuary is already beginning to struggle under the weight of human
activity, including marine activity. A fact it would seem that Clarence Valley
Council ignores in its development strategy.
It is a fact
that estuary communities cannot afford to ignore if they wish to preserve the
aesthetic, cultural, social and environmental amenity which supports both
community life and the local economy.
In 2016-2017 a
study of six NSW ports was undertaken and published in PLoS One and online in
December 2017 as “Water
quality assessment of Australian ports using water quality evaluation indices”.
With regard
to the Port of Yamba in the lower Clarence
estuary the study recommended regular monitoring and management of port
activities accounting for both biological and chemical toxicological profiles
of the discharging activities.
It did so for
the following reasons:
* The Port of
Yamba has standard levels of Dissolved Oxygen according to ANZECC guidelines. However. the amount of
fecal coliforms was significantly higher in the water of the port area than the
corresponding background samples, which clearly indicates the impact of the fishing
fleet and recreational boating on the port environment.
* Very high concentrations of iron were found in the port
water, the maximum concentration of lead in the water exceeded the ANZECC (0.0022)
guidelines with all the background samples had much lower concentration
of lead compared to the port area and, the maximum concentration of
copper in the water was much higher than ANZECC guidelines and exceeded other
international guidelines at (0.04 mg/l) in Port of Yamba.
* The mean concentration of copper also exceeded the ANZECC
guidelines. When it came to zinc levels were low except in the port area which contained
very high concentrations of zinc, which exceeded the guidelines. Concentration
of cadmium and cobalt were within the ANZECC guidelines.
* Overall the Port of Yamba portrayed high contamination for all
standard guidelines when it came to water quality – the port area has water
quality of medium contamination and one site has high contamination.
Clarence Valley Council itself admits that the entire estuary is already under stress in its Report Card 2013:
Clarence Valley Council itself admits that the entire estuary is already under stress in its Report Card 2013:
“Water quality was poor
in the estuary throughout the study, with the region around the tidal limit with
consistently the worst water quality of the Clarence River
reflecting the
freshwater and tidal inputs at these sites. Estuary tributaries, particularly
Swan and Sportsmans Creeks and the Coldstream River were in very
poor overall condition
receiving a grade of F. These systems had consistently poor water quality that
contributed nutrient rich, low oxygen and acid water
to the Clarence River
following flooding.
Concentrations of
nitrogen and phosphorus consistently exceeded the guideline values throughout
the study at all sites. Very high nitrogen concentrations were
recorded in estuarine
reaches following flooding. There were no algal blooms recorded during the
study. However, algal concentrations were consistently
above the guideline
value in estuarine reaches.
The Broadwater and
Wooloweyah coastal lagoons both had very poor water quality, with high algal
and nutrient concentrations and turbidity, and low dissolved oxygen values
consistently exceeding a number of water quality guidelines. The Broadwater had
better riparian condition relative to Wooloweyah that improved its
overall grade.
Riparian condition was
generally low from a poor diversity of native vegetation, reduced vegetation
structure and small isolated pockets that were poorly connected to other native
vegetation. Reaches showed evidence of eroding river banks and sediment
deposited in the channel. Estuarine reaches were often dominated by riverbanks with
little or no vegetation present, leading to very poor condition grades.”
The tidal water exchange will not protect the lower estuary from a spreading loss of water quality and increased levels of pollution once industry begins to expand along its foreshores and clusters of marine businesses such as shipbuilding and repair are further developed.
There will be a tipping point that once reached will be hard, perhaps even impossible, to reverse.
This is something that Lower Clarence communities need to consider before council goes too far down this path which leads away from a healthy estuary for future generations.
Monday 14 January 2019
The Morrison Government has given permission for oil and gas exploration in NSW coastal waters by a company set up as a tax minimisation ploy
Those Liberal-Nationals MPs and senators preparing to return to Canberra late next month appear determined to annoy NSW voters - especially those who live in coastal communities.
Having wrecked the Murray-Darling freshwater river system that runs through four states, they have now turned their eyes towards the coastal commercial and recreational fishing grounds of New South Wales.
This is how it is playing out........
Asset Energy Pty Ltd holds an 85 per cent interest in Petroleum Exploration Permit PEP11, an offshore petroleum exploration lease covering 4,649 square kilometres in Commonwealth waters off the coast of New South Wales.
Having wrecked the Murray-Darling freshwater river system that runs through four states, they have now turned their eyes towards the coastal commercial and recreational fishing grounds of New South Wales.
This is how it is playing out........
Asset Energy Pty Ltd holds an 85 per cent interest in Petroleum Exploration Permit PEP11, an offshore petroleum exploration lease covering 4,649 square kilometres in Commonwealth waters off the coast of New South Wales.
Asset Energy is a wholly owned subsidiary of the Melbourne-based (formerly Perth-based) mining company MEC Resources Ltd’s investee company Advent Energy Ltd.
Bounty Oil and Gas NL is the junior joint venture partner
in PEP11 holding a 15 per cent interest,
Newcastle Herald, 9 January 2019 |
In March 2018 the National Offshore Petroleum Safety and
Environment Management Authority (“NOPSEMA”) gave approval for a survey which
acquired high resolution 2D seismic data over the Baleen prospect,
approximately 30km southeast of Newcastle, which evaluated (amongst other things)
shallow geohazard indications including shallow gas accumulations that can
affect future potential gas drilling operations.
NOPSEMA falls within the portfolio of Australian Minister for Resources and Northern Australia & Nationals Senator for Queensland, Matt Canavan.
That particular survey
has been completed and on New Year's Eve 2018 MEC Resources informed the Australian Stock Exchange that it now intends
to do 3D seismic mapping in the vicinity of the potential test drill site at the
earliest opportunity.
Underwater seismic testing involves continuous seismic airgun blasts approximately every 2-3 seconds for 24 hours continuously, for days or weeks at a time. That is, such testing creates compressed air streams or focused sonic waves - in simple language, loud booms - towards the ocean floor in order to gauge the depth, location and structure of the oil or gas resources. The sounds of which can travel many thousands of square kilometres and which are known to have a negative effect on marine ecosystems.
Underwater seismic testing involves continuous seismic airgun blasts approximately every 2-3 seconds for 24 hours continuously, for days or weeks at a time. That is, such testing creates compressed air streams or focused sonic waves - in simple language, loud booms - towards the ocean floor in order to gauge the depth, location and structure of the oil or gas resources. The sounds of which can travel many thousands of square kilometres and which are known to have a negative effect on marine ecosystems.
Previous to this, on 15 May 2018 the NSW
Parliament had called on the federal government to suspend Asset Energy’s permit to
conduct seismic testing off the coast of Newcastle, with the NSW Minister for Resources
and Energy & Liberal Party Member of the Legislative Council Don Harwin expressing a lack of
confidence in Australia’s current offshore mining regulations.
The Morrison
Coalition Government in Canberra appears to be ignoring NSW Government and community concerns. Being more concerned itself with offering tax free investment opportunities to the market. 1
It is worth noting that any
significant Advent Energy/Asset Energy drilling rig (left) mishap has the potential for an uncontrolled release
of untreated oil into coastal waters.
It is reportedly intended that one or more exploration drilling rigs should be in place sometime in 2020.
MEC Resources (formerly MEC Strategic Ltd) is a registered corporation which only been in existence for the last thirteen years and for the last three years there has been a bitter rift between the board and certain shareholders involving repeated calls for removal of the entire board, with the last call for a spill occurring in November 2018. The company was also involved in a dispute with a former managing director, as well litigation involving a $295,000 loan.
One of the shareholder bones of contention appears to be the cost of exploration in PEP11. On 31 October 2018 MEC Resources informed the stock exchange that a cost reduction plan remains in place to ensure all costs are reduced wherever possible.
Questions raised about the rigour of offshore mining regulations covering PEP11 and an oil & gas exploration company determined to cut costs. What could possibly go wrong?
Concerned readers can sign Stop Seismic Testing Newcastle's change.org petition to Minister Canavan and NOPSEMA here.
Footnotes
1. www.mecresources.com.au, Tax Advanatges, retrieved
10 January 2018:
MEC is a registered
Pooled Development Fund (PDF). PDF shareholders pay no capital gains tax on the
sale of their PDF shares. Investors who receive dividends will also be exempt
from income tax on dividends.
This can be particularly
attractive to both traders and investors, since any profits derived from trades
or investments are tax-free or low tax. The Pooled Development Fund Programme
was established by the Federal Government to develop the market for patient
venture capital for growing small and medium enterprises and to provide a
concessional tax regime to encourage such investments. Any capital losses on
the sale of PDF’s are not deductable.
To encourage investors,
the government offers tax benefits to both the PDF and its shareholders as
follows:
capital
gains made by PDF shareholders are not taxable,
shareholders
can elect to treat dividends paid by a PDF as tax free,......
PDF’s tend to invest in
a portfolio of growing companies, thereby potentially reducing investors’ risk
through diversification. Investee companies have the potential to become listed
companies in their own right, which has the possibility of providing investors
with attractive returns.
This is not a complete
list of the taxation issues surrounding Pooled Development Funds. For further
information please contact AusIndustry.
See Pooled Development FundsAct 1992 as amended up to September 2018.
Subscribe to:
Posts (Atom)