Ms Julie Bishop (Curtin, Liberal Party, Deputy Leader of the Opposition) Share this | Link to this | Hansard source

My question is to the Prime Minister. I refer the Prime Minister to his statement on Perth radio last Wednesday that a mining superprofit is any return on investment over six per cent. Will the Prime Minister rule out a superprofit tax on other sectors making a return on investment greater than six per cent?

Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

As the Deputy Leader of the Opposition would be aware, the resources regime in this country deals with non-renewable resources which are taxed separately, and it has been done so for more than 100 years, either through (a) the royalties regimes of states (b) the petroleum resource rent tax or (c) proposed with this resource rent tax for onshore resources as well. That is why it is taxed separately, and I would have thought the Leader of the Opposition and the deputy would have known that.