Tag: RSPT

Australia’s Minerals Resource Rent Tax compromise is positive news for big miners but it comes at a price for the wider business community.

With BHP Billiton, Rio Tinto and Xstrata forcing Julia Gillard to bend to their RSPT demands, the Government will halve proposed Company Tax for business.

BHP Billiton, Rio Tinto and Xstrata as well as the Australian Workers Union (AWU) are pleased with plans to replace the Resource Super Profits Tax with a Mineral Resource Rent Tax (MRRT).

The Resource Super Profits Tax will now be known as the Minerals Resource Rent Tax, in a compromise between Julia Gillard’s, Federal Government and the miners.

Prime Minister Julia Gillard is reportedly closer to reaching a compromise with the mining industry, with the oil and gas industry receiving its own classification in the RSPT.

Joe Hockey insists that Labor’s Resource Super Profits Tax has caused the AU$ to collapse despite Kevin Rudd instead blaming the Liberal Party’s negative talk for the fall.

Kristina Keneally will defend jobs in regional NSW threatened by the Kevin Rudd’s proposed Resource Super Profits Tax (RSPT) the Premier claimed yesterday.