Minerals Resource Rent Tax Bill 2011 [Provisions] and related bills

Minerals Resource Rent Tax Bill 2011 [Provisions] and related bills

14 March 2012

© Commonwealth of Australia 2012
ISBN 978-1-74229-603-6

View the report as a single document - (PDF 2489KB)

View the report as separate downloadable parts:

Membership of Committee (PDF 52KB)
Acronyms and abbreviations (PDF 49KB)
Executive Summary (PDF 109KB)
Chapter 1 - Introduction (PDF 68KB)

Conduct of the inquiry
Examination by the Senate Scrutiny of Bills Committee
Outline of the report

Chapter 2 - The mining boom and the MRRT (PDF 266KB)

The economic environment
Why a resource rent tax?
The Minerals Resource Rent Tax package
Views on the MRRT
Committee view

Chapter 3 - How the Minerals Resource Rent Tax works (PDF 98KB)

Overview of the MRRT

Chapter 4 - Revenue from the Minerals Resource Rent Tax (PDF 253KB)

Factors affecting the revenue projection
Concluding comments

Chapter 5 - Concerns of small and emerging miners (PDF 285KB)

Competitive neutrality and unfairness
Low profit offset
The simplified MRRT method and the alternative valuation method
Other issues
Concerns of the magnetite industry
Constitutional concerns
Concluding comments

Chapter 6 - Extension of the Petroleum Resource Rent Tax (PDF 310KB)

The Petroleum Resource Rent Tax
Overview of the proposed extension
Provisions of the Bills
Committee view

Chapter 7 - Using the benefits of the mining boom to increase retirement savings (PDF 400KB)

Retirement income in Australia
Overview of the measures
Fiscal implications of the measures
Views on the increased superannuation guarantee charge
Assessment of the impact of a higher SG charge on employers
Other issues
Views on abolishing the SG charge age limit
Views on the low income superannuation contribution
Committee view

Chapter 8 - Using the benefits of the mining boom to assist small businesses (PDF 82KB)

Abolishing the entrepreneurs' tax offset
Increasing the small business instant asset write-off threshold and simplified asset depreciation
Submitters' views
Committee view

Dissenting Report by Coalition Senators - Mining tax: a bad tax out of a bad process (PDF 370KB)
Minority report by the Australian Greens - Executive summary (PDF 315KB)

Conduct of the inquiry
The mining boom and the Australian economy
The tax paid by mining companies
Resource rent taxes
Estimates of revenues from MRRT and RSPT
The MRRT rate
Minerals covered by the MRRT
The MRRT and state royalties
The uplift rate
Starting base and depreciation arrangements
The taxing point
Refundability of losses
Other concerns raised by the mining industry
Review of the MRRT
Retirement income adequacy
Compulsory superannuation
Who bears the cost of increasing the SG?
Impact of expanding superannuation assets
Tax concessions for superannuation

APPENDIX 1 - Submissions received (PDF 79KB)
APPENDIX 2 - Public hearings and witnesses (PDF 56KB)

For further information, contact:

Department of the Senate
PO Box 6100
Parliament House
Canberra ACT 2600

Phone: +61 2 6277 3540
Fax: +61 2 6277 5719
Email: economics.sen@aph.gov.au