MRRT mineral resources 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..
 

Press Releases, Videos & Presentations
   
August 3rd 2010 - SMC Chairman Julian Malnic
 
Trevor Sykes
Julian Malnic
Chairman, Sydney Mining Club

Press Release: 3rd August 2010
The Tale of Collapsed Trust between Miners and Government

(Follow-on to speech of 29th July Sydney Mining Club.)

Excerpt:
As you read this undated chronology of events, ask this question:
How could any industry receiving this sort of treatment from its own Government be logically expected to have trust for it remaining?

1) In response to years of lobbying, Kevin Rudd promises the mining sector a 'Flow Through Share Scheme'(FTSS) as part of his '07 Election promise list. (This type of scheme stimulates the discovery of new mines by giving tax breaks to some investors in the high risk junior explorer companies - Canada has outstripped Australia in discovery over the last decade using an FTSS). Rudd's Promise is never fulfilled.

Read full release here
July 29th 2010 - SMC Chairman Julian Malnic
 
Trevor Sykes
Julian Malnic
Chairman, Sydney Mining Club

Press Release: 29th July 2010
Julia Gillard's Mining Industry Shut-Out - Mineral Resource Rent 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.

Read full release here
July1st 2010 - SMC Chairman Julian Malnic
 
Trevor Sykes
Julian Malnic
Chairman, Sydney Mining Club

Speech from Sydney Mining Club: 1st July 2010
MRRT / RSPT Mining Tax Discriminatory againsty the Mining Industry

View Video Clip here

 
May 6th 2010 - Julian Malnic, Darren Lee, Trevor Sykes
 
Trevor Sykes
Julian Malnic, Darren Lee and Trevor Sykes, Sydney Mining Club

Presentation from Sydney Mining Club: 6th May 2010
Questions and Comments about proposed new Mineral Resources Super Tax (MRST) by Sydney Mining Club Chairman Julian Malnic, Deloitte Tax Services Partner Darren Lee, and Sydney Mining Club Patron Trevor Sykes

View Presentation here
May 2nd 2010 - Kevin Rudd & Wayne Swan Announce the "Super Profits Tax"
 
Trevor Sykes
Kevin Rudd and Wayne Swan

Quotes from Announcement of New Mineral Resources Super Tax
"This long-term plan released today builds a stronger economy by using super profits earned from the resources owned by all Australians," Prime Minister Kevin Rudd said.

"Companies will not pay the tax until after they have provided shareholders with the normal return on capital investments and then only on any additional profit," Treasurer Wayne Swan said.
Home
  
About Sydney Mining Club
  
Past Events
  
Future Events
  
Book Online