22 Dec 10 Treasurer releases report on mining tax proposals
In media release No 2010/096, issued 21 December 2010, the Treasurer, Wayne Swan, announced the release of the Policy Transition Group's reports on the implementation of the new resource taxation proposals, otherwise known as the mining tax.
The Group, jointly led by the Resources and Energy Minister, Martin Ferguson, and Don Argus, was established to advise on the implementation and technical design elements of the tax proposals, with the aim of minimising compliance costs and enabling a smooth transition to the new arrangements.
The Treasurer said that the Government will now consider the recommendations of the report in detail and respond in early 2011 following Cabinet consideration and discussions with state and territory governments. The report will also inform the preparation of exposure draft legislation by mid-2011, which will be the subject of further consultation.