Australia to propose tax incentives for critical minerals
The proposed law will set up a tax incentive worth 10% of relevant processing and refining costs for 31 critical minerals.
A record number of skilled New Zealanders involved in trade are leaving their country to take up higher paying jobs in Australia, reports Tuesday The New Zealand Herald.
According to the article, in the 12 months to June a record 53,763 New Zealanders headed to Down Under, with tradespeople accounting for the majority of positions taken by the 20-29 age group.
Lack of jobs is only a small part of the problem, told the paper Dr. Hendy, a professor of physics at Victoria University in Wellington. He added the more research grants to encourage economical growth may stop the massive exodus.
Other academics quoted said the figures are indicative of a “trades drain” hitting New Zealand, and fear the mounting migration could hurt the country’s economy.
In June, more than 3,000 Kiwis said they were willing to pay their way to and from Perth to work in the mining industry, especially in Western Australia.
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