08 Mar Does the Mount Isa Water Board make a profit?
Posted at 19:44h in
The Mount Isa Water Board has made a profit in most years and has consequently paid taxes and dividends to the State Government. From the time the Mount Isa Water Board was commercialised in 2000 until 2011–12, all dividends and taxes were passed on by the State Government to Mount Isa City Council, amounting to $28 million poured back into the Mount Isa community over that period. Current State Government policy is that Mount Isa City Council will receive 50% of the total dividends and taxes generated by the Mount Isa Water Board in a financial year (July to June). However, this is conditional upon the Mount Isa Water Board making a profit for the year. Provided MIWB makes a profit, the receipt of dividends and tax by Mount Isa City Council offset a significantly proportion of the cost of water charges.