House of Representatives Committees

| House of Representatives Standing Committee on Economics

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Advisory Report on the Minerals Resources Rent Tax Bill 2011 and related Bills

21 November 2011

© Commonwealth of Australia 2011
ISBN 978-0-642-79600-4 (Printed version)
ISBN 978-0-642-79601-1 (HTML version)

View the report as a single document - (PDF 866KB)


View the report as separate downloadable parts:

Preliminary Pages (PDF 94KB)
 
Chapter 1 Introduction (PDF 78KB)

Referral of the bills
Origins and purpose of the bills
Minerals rent taxation
Background
Australia’s Future Tax System review
Consultation in the development of the MRRT
Policy drivers
Superannuation
Objectives and scope of the inquiry
Conduct of the inquiry

 
Chapter 2 Overview of the Bills (PDF 119KB)

Mineral Resource Rent Tax Bills 2011
Existing taxes
Basic operation of the MRRT
What resources are covered by the MRRT
Date of effect and financial impact
Consequential Bills
Petroleum Resource Rent Tax Amendment Bills 2011
Imposition Bills for the PRRT
Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011
Small business depreciation
Small business deductions for motor vehicles
Low income superannuation contribution
Superannuation Guarantee (Administration) Amendment Bill 2011
Raising the superannuation guarantee age limit from 70 to 75
Increasing the superannuation guarantee charge percentage to 12 per cent

 
Chapter 3 Operation and impact of the MRRT (PDF 116KB)

Impact of the Bills on small miners – overview
Small and emerging miners
Analysis
Conclusion
Transition arrangements and the starting base
Analysis
Conclusion
Concessions for small and emerging miners
Analysis
Conclusion
Compliance costs on small and emerging miners
Analysis
Conclusion
The emerging magnetite industry
Analysis
Conclusion
Modelling and revenue estimates
Analysis
Conclusion
Mining investment growth
Analysis
Conclusion
Constitutionality
Analysis
Conclusion

 
Chapter 4 Sharing the benefits of the mining boom (PDF 121KB)

Introduction
Mining profits and a fair share for Australians
Concessions for small business
Small business asset write off and deduction for motor vehicles
Concessions for workers
Raising the SG age limit
Low income superannuation contribution
Regional Infrastructure Fund
Overall conclusions

 
Appendix A – Submissions and exhibits (PDF 30KB)
 
Appendix B – Hearings and witnesses (PDF 50KB)
 
Appendix C – List of advisory reports (PDF 30KB)
 
Dissenting Report (PDF 90KB)

 

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