MRRT RSPT mineral resource rent tax

The RSPT (Resources Profit Super Tax) is now known as the MRRT - Mineral Resources Rent Tax. Also variously called Australia's Mining Super Tax, the Australian Government has been putting together a mining industry specific tax designed to raise more revenue for the Australian Government.

MRRT

Mineral Resource Rent Tax

RSPT

Mining Super Profits Tax

Hey did you hear the joke about the two South Africans and the American…
They helped throw out Australia’s Prime Minister so they wanted a mining tax!
Yes well done if you saw the punchline coming, the two South Africans are Marius Kloppers and Mick Davis, CEOs of BHPBilliton and Xstrata, and the American was Tom Albanese CEO of Rio Tinto.

So what happened on that June day when Julia Gillard closed the door on a windowless room in Parliament House to cut a deal with ‘the Australian Mining Industry’.  Something vital happened. She closed the door on the Executive Director of the Minerals Council of Australia.  Mitch Hooke was left out.  Also shut out was the other industry body the Association of Mining & Exploration Companies.  So much for talking to “the Australian Mining Industry”.

Also shut out was all of us.  All of us miners in this room, all of us across Australia.  Julia Gillard must have thought we’re just one big happy union and these were our leaders.