Senate debates

Tuesday, 9 October 2012

Questions on Notice

Minerals Resource Rent Tax Bill 2012 (Question No. 1929)

Photo of Eric AbetzEric Abetz (Tasmania, Liberal Party, Shadow Minister for Employment and Workplace Relations) Share this | | Hansard source

asked the Minister representing the Treasurer, upon notice, on 26 June 2012:

With reference to the answer to question on notice no. 1792 (Senate Hansard, 20 June 2012, proof p.103), is this to be interpreted to mean that all the investments and jobs referred to have been created as a result of the Minerals Resource Rent Tax; if not, can an answer relevant to the question be provided.

Photo of Penny WongPenny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | | Hansard source

The Treasurer has provided the following answer to the honourable senator's question:

The employment growth in the mining sector is a function of investment and growth in the sector. As a profits-based tax, unlike royalties the Minerals Resource Rent Tax is not expected to impact on investment and production decisions of the industry.