Tradeable assets aboriginal and torres strait

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economy (Altman 2009 cited in Russell 2011) (see section on commercial businesses). Tradeable assets Aboriginal and Torres Strait Islander Australians have negotiated land use agreements with governments and others (for example, mining companies and pastoralists). These agreements can yield benefits in the form of monetary payments; support for community services, facilities and infrastructure; employment and training programs; and protection of cultural sites. Amendments to the Tax Laws Act in June 2013 helped clarify the taxation treatment of native title benefits by stating that these benefits are not subject to income tax (including capital gains tax). This may assist Aboriginal and Torres Strait Islander Australians to unlock the economic potential of their native title (NNTT unpublished). 9 Eco-services and land management 9 In an attempt to quantify the potential economic benefits that native title can deliver to Indigenous communities, a House of Representatives inquiry into the taxation treatment of native title benefits reported that mining companies are paying $200 million annually to Indigenous communities in the Pilbara (House of Representatives Standing Committee on Economics 2013). 9.18 OVERCOMING INDIGENOUS DISADVANTAGE 2014
Many Commonwealth, State and Territory programs recognise and employ Aboriginal and Torres Strait Islander Australian’s land management skills, through joint management of conservation reserves, national parks and marine parks. Indigenous Protected Areas (IPAs) are areas of Indigenous-owned land or sea where traditional owners have agreed with the Australian Government to promote biodiversity and cultural resource conservation. As at January 2014, there were 51 agreements in place, spanning over 36 million hectares (Department of the Environment 2014). IPA agreements provide funding that can be used to employ Aboriginal and Torres Strait Islander Australians to undertake the work required to meet the goals of the IPA. Commercial businesses Enterprise development, utilising the natural resources found on Indigenous owned or controlled land, provides opportunities for economic development whilst allowing Aboriginal and Torres Strait Islander Australians to maintain close connection to the land and maintain customary practices (Bawinanga Aboriginal Corporation 2007; Fordham, Fogarty and Fordham 2010). Examples of natural resource enterprises include: carbon abatement programs and eco-services; wildlife ventures involving the collection of native animals and plants for the medicine, bush food and pet trades; tourism businesses; art enterprises; and pastoral businesses such as beef cattle enterprises and orchards. Things that work A case study of a promising program that supports Indigenous owned or controlled land is presented in box 9.2.3. ECONOMIC PARTICIPATION 9.19
Box 9.2.3 Things that work — Indigenous owned or controlled land Although the outcomes have not been formally evaluated, the Steering Committee has identified the Indigenous Landholder Services as a promising program worth further examination.

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