Coal-Mining Profits Tax Bill Introduced in Australian Parliament

Platts reported that the coal profit tax bill, called the Minerals Resource Rent Tax, has now been introduced in Australia’s parliament.

As quoted in the market news:

Proceeds from the MRRT will be used to “ensure all Australians share in the benefits of the [mining] boom”, said the ministerial statement, including delivering a 1% cut in Australia’s 30% corporation tax rate, higher company-paid superannuation contributions for employees and investment in transport infrastructure.

Click here to read the full Platts report.