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ARTICLE · 12 JULY 2010

Minerals Resources Rent Tax: A Compromise

Norton Rose Fulbright Australia
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On 2 July 2010, the Australian Government announced an agreement with the mining industry on its controversial mining tax. The compromise was the result of intense consultation and negotiation with parts of the mining sector.

AustraliaEnergy and Natural Resources
David Stavropoulos
David Stavropoulos
David Coombes
David Coombes
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On 2 July 2010, the Australian Government announced an agreement with the mining industry on its controversial mining tax. The compromise was the result of intense consultation and negotiation with parts of the mining sector. It will provide miners and financiers with a framework for making investment and financing decisions on projects.

The new mining tax will be renamed the Minerals Resource Rent Tax (MRRT) in place of the Resource Super Profits Tax (RSPT). The primary differences between the MRRT and the RSPT regimes may be summarised as follows:

MRRT RSPT
Scope Iron ore and coal projects

Oil, gas and coal seam methane projects both onshore and offshore Australia will be subject to the Petroleum Resource Rent Tax

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