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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

Abstract:

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 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 29 May 2019
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Leonard Hertzman CTA
Photo of author, Len HERTZMAN Len Hertzman, CTAis an Assistant Commissioner in the ATO’s Tax Counsel Network and is based in Perth. He was previously a tax partner at Ashurst. Len is also a National and State Councillor of The Tax Institute and former chair of the National Tax Convention and National Resources Tax Conference program committees. - Current at 05 April 2019
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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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