Senate debates
Monday, 19 March 2012
Bills
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; Second Reading
10:47 am
Glenn Sterle (WA, Australian Labor Party) Share this | Hansard source
Sorry, she put me off; she made me laugh. I will not stop there. I am going to keep going. I have no doubt about Senator Nash's commitment to regional Australia but, sadly, unfortunately, we have witnessed in this country in the last 18 months or so—while we have been having this debate about some form of tax concession or tax collection from the mining industry—a plethora of mistruths, lies and misleading figures. Anyone who wants to make some commentary on it who has no background on it has their little bit and their moment in the sun. But I would like to actually clear up a few things.
I suppose I am not allowed, but I would love to ask a question to those out there who may be listening or those in the gallery. The whole idea of this tax on our non-renewable resources is that it concerns only iron ore and coal. It does not affect any other commodity. I would like to get a feeling from the gallery. When you look at the massive amounts of iron ore and coal being dug up in this country that cannot be replaced, do you think it is unfair—through you, Mr Deputy President—that once a company hits $75 million in profit they will pay a tax? If they make $74,999,999.95, they will not pay the tax. I do not think for one minute that any decent, hardworking Australian would think that the Gillard government is being at all harsh on companies because they are taking our nonrenewable commodities. What they do with them range from fantastic things to who knows what else around the world. It is a $75 million profit tax.
So if you listened to Mr Abbott, Mr Hockey and Mr Robb—that is if they are on the same page on the same day, and that has not happened for months and months, and Senator Sinodinos must be cringing—you would think that we, as a government, are going out there to crucify employment. You would think that we are going out there, in their terminology which I have read in the paper over a number of months, to kill the golden goose. This is an absolute lie. Mr Acting Deputy President, the whole basis of the Liberals and the Nationals—
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