Senate debates

Tuesday, 10 December 2013

Questions without Notice


2:48 pm

Photo of Arthur SinodinosArthur Sinodinos (NSW, Liberal Party, Assistant Treasurer) Share this | Hansard source

You don't like to hear this, do you? You don't like to hear the consequences of what you did to one of the big industries of Australia, one of the industries of the future. The mining tax has already cost over $50 million in administration but raised only $400 million. How is that for a return on the industry? Treasury confirmed in the recent Senate economics committee hearing that far more companies need to comply with the tax than have actually paid the tax to date. Approximately 235 companies have registered for the tax and 65 more are due to register should the repeal of the tax not proceed; however, fewer than 20 companies actually incurred a MRRT liability in 2012-13.

If we want a vibrant energy and resources sector, we have to repeal the MRRT and we have to repeal the carbon tax. The opportunity we have over the next few days is to complete that task.


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