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On 1 October 2010 the Australian Government's Policy Transition Group released an Issues Paper in the lead up to the commencement of formal consultation with stakeholders in Perth during the week ending 8 October 2010.

The Issues Paper canvasses implementation arrangements for the Minerals Resource Rent Tax (MRRT) and the extended Petroleum Resource Rent Tax (PRRT) within the parameters of the policy principles announced on 2 July 2010.

It also seeks input from stakeholders on the best way to promote future exploration and ensure a pipeline of resource projects for future generations.

Interested stakeholders are invited to make formal written submissions to the Policy Transition Group in response to the Issues Paper.

The Issues Paper should be read in conjunction with the template financial models that have been prepared to assist stakeholders model aspects of the proposed MRRT and PRRT reforms.

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