Mining tax repeal welcomed... mostly

THE whole thing was a waste of time.

That's what Raglan resident Andrew Nelson (pictured) said after the minerals resource rent tax was repealed

"The government at the time of the implementation was expecting to get $3 billion a year from it and they spent the money before they got it," he said.

"It was a good tax to get rid of."

Clinton resident Don Brown disagreed.

"The tax was a good thing because they (mining companies) are reaping the benefits of the country and not putting enough back in," he said.

Rio Tinto chief executive Sam Walsh said: "We strongly support the repealing of the mining tax."

"This will be a positive step for investment and good for jobs in the mining sector.

"The MRRT was never necessary as Australians were already sharing in the benefits of the mining boom through the high company tax payments, royalties and community spending.

"We never supported another layer of taxation on the industry.

"Last year Rio Tinto paid $US5.7 billion in taxes and royalties in Australia."

The Minerals Council of Australia said it welcomed the repeal of the minerals resource rent tax, which it called a major step on the road to Australia reclaiming its status as a globally competitive producer and an attractive destination for mining investment.

"The MCA also welcomes the wider signal sent by the Commonwealth Parliament that workable and pragmatic solutions can be found to support legislative action in line with election commitments," a spokesperson said.

"The MRRT was based on the false premise that the mining industry was not paying its fair share of tax through the millennium mining boom."

The Gladstone Ports Corporation was asked about the impact of the repeal on the port.

A spokesperson said: "As a government-owned Corporation, GPC does not make public comment on government matters such as this."

Court tosses coal terminal a $3.5b debt lifeline

premium_icon Court tosses coal terminal a $3.5b debt lifeline

The lawyer representing senior lenders said it was a good result.

Bidding begins for Broncos and Origin jerseys

Bidding begins for Broncos and Origin jerseys

Signed shirts from women's Broncos and Origin teams are up for grabs.

Local Partners