Tuesday, 22 November 2011
Minerals Resource Rent Tax Bill 2011, Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Bill 2011, Minerals Resource Rent Tax (Imposition — General) Bill 2011, Minerals Resource Rent Tax (Imposition — Customs) Bill 2011, Minerals Resource Rent Tax (Imposition — Excise) Bill 2011, Petroleum Resource Rent Tax Assessment Amendment Bill 2011, Petroleum Resource Rent Tax (Imposition — General) Bill 2011, Petroleum Resource Rent Tax (Imposition — Customs) Bill 2011, Petroleum Resource Rent Tax (Imposition — Excise) Bill 2011, Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011, Superannuation Guarantee (Administration) Amendment Bill 2011; Consideration in Detail
by leave—I move amendments (1), (2), (4) and (6):
(1) Clause 10-1, page7 (line 12), omit "A", insert "substitute "Subject to section 10-30, a".
(2) Page 9 (after line 17), at the end of Division 10, add:
10-30 No liability unless mature miner pays tax
(1) Notwithstanding any other provision of this Act, a miner other than a *mature miner has no liability to pay *MRRT for any *MRRT year that commences before the *MRRT year in which a *mature miner has its first *MRRT liability.
(2) A mature miner is a miner whose*group production of taxable resources for an MRRT year has exceeded 40 million tonnes.
(4) Clause 300-1, page 261 (after line 27), after the definition of general interest charge, insert:
group production of taxable resources has the meaning given by section 175-15.
(6) Clause 300-1, page 263 (after line 8), after the definition of market value, insert:
mature miner has the meaning given by subsection 10-30(2).
These amendments ensure that smaller miners will have no MRRT liability until such time as one of the mature miners pays the tax. Industry modelling has suggested that, due to large starting-base allowances, the three mature miners who negotiated this tax may not actually pay the MRRT for several years.
Amendment (1) seeks to protect the smaller members of the mining industry by ensuring that no miner pays the tax before one of the mature miners. Amendment (2) creates a new section 10-30, which ensures that notwithstanding any other provision of the act, a miner has no MRRT liability for any MRRT year that commences before the year in which the mature miner first pays the tax. This amendment includes a definition of a mature miner as a miner whose group production of taxable resource for the MRRT year has exceeded 40 million tonnes. These amendments will provide a safeguard for the smaller miners as they will not pay the tax before the biggest miners that negotiated the design of this tax. Question put:
That the amendments (Mr Crook's) be agreed to.
The House divided. [00:28]
(The Speaker—Mr Harry Jenkins)