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A super tax no more - agreed principles for Australia's resource rent tax arrangements.

Publication date: 22 Jul 10 | Source: CCH TAX WEEK

Issue: Issue 28 2010

Pages: pp. 1-4


In a significant turnaround, the government has announced new resource rent tax arrangements. Instead of a Resource Super Profits Tax (RSPT), the new mining tax regime will consist of:

- a new Minerals Resource Rent Tax (MRRT) which will apply to iron ore and coal

- the existing Petroleum Resource Rent Tax (PRRT) which will apply to all oil, gas and coal seam methane projects, onshore and offshore.

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Author profiles

Ian Kellock CTA
Photo of author, Ian KELLOCK Ian Kellock, CTA, is a Tax Partner at Ashurst and has extensive experience in Australian corporate and international tax, advising Australian and foreignowned banking and financial services groups. Ian’s practice primarily focuses on due diligence and structuring for mergers, acquisitions and divestments, financing transactions and group reorganisations. Ian has significant recent experience advising on all income tax aspects of financing and refinancing transactions and asset and debt reconstruction projects. - Current at 02 November 2018
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Leonard Hertzman CTA
Photo of author, Len HERTZMAN Len recently joined the ATO as an Assistant Commissioner with the Tax Counsel Network and is based in Perth. He was previously a tax partner at Ashurst and has worked as a tax lawyer for over 25 years in Australia and Canada. He is a member of the WA State Council of The Tax Institute. - Current at 29 May 2015
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Vivian Chang CTA
Vivian Chang, CTA, is a Partner at Ashurst, based in Sydney. Vivian has over 20 years' experience advising on Australian and international tax aspects of corporate and financial services transactions. Vivian works with Australian and multinational corporates as well as funds and institutional investors across a broad range of industries. - Current at 24 February 2017
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