Minerals Resource Rent Tax: Implementation & transition issues

This Submission is made by the Minerals Council of Australia (MCA) in conjunction with the Chamber of Minerals and Energy of Western Australia, the Queensland Resources Council, the New South Wales Minerals Council, the South Australian Chamber of Mines and Energy, the Victorian Division of the MCA, the Tasmanian Minerals Council and the Northern Territory Division of the MCA. It is a technical design paper on the proposed Minerals Resource Rent Tax (MRRT) in accordance with the negotiated Heads of Agreement on the tax and the Terms of Reference of the Policy Transition Group (PTG).

The Submission has a dual purpose:

  1. To identify the issues most relevant to the smooth and efficient implementation of the tax consistent with the announced design parameters; and
  2. To provide, as far as possible, a workable roadmap for the PTG in dealing with key implementation and transition issues.

The Submission does not address every issue within the PTG‟s Terms of Reference. An additional detailed Submission will be made on exploration issues where the PTG has been charged with considering the best way to promote future exploration and ensure a pipeline of resource projects for future generations. In addition, the parties to this Submission will make further Submissions on policy and technical aspects of the MRRT within the designated timeframe for deliberations by the PTG.

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