Business

Mining Tax nets no cash in its first quarter

CROSS-BENCH MPs will push for the government to make changes to the mining tax, after the tax netted no government revenue in its first quarter earlier this year.

Greens MP Adam Bandt will introduce a bill to make changes to the minerals resource rent tax (MRRT), after party leader Senator Christine Milne tabled the same bill in the upper house.

Mr Bandt said the changes would ensure some $2.2 billion in government revenue would end up in the Commonwealth coffers so deliver disability, dental health, and education reforms.

"By caving in on the mining tax, the government has given the keys to the Commonwealth coffers to the states," said Mr Bandt.

"I am very please that my cross-bench colleagues have thrown their weight behind the Greens' bill.

"Given the support in the House, the government now has no excuse not to accept the Greens' proposal and fix this revenue hole."

He was joined by independent MP Rob Oakeshott, who will second the bill for debate.

The pair said the bill would ensure the tax would bring in revenue, as well as remove the need to reimburse state royalties under the tax.

Mr Bandt said he was concerned the government would not deliver its numerous promises to the nation.

He also feared the pushing of such financial investments out to 2020 could jeopardise the future of the National Disability Insurance Scheme and Denticare.

Mr Oakeshott said he would back the Greens' bill on the grounds he was also worried the government could not deliver either its surplus for 2012-13, or its existing promises.

Topics:  adam bandt, greens, mining tax, rob oakeshott


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

IS IT POSSIBLE? How to live alongside flying-foxes

A vexed questionof living with flying foxes will be discussed this Friday at the NPA forum.

THE conflict between urbanites and wildlife has a new battleground

Gamblers can beat betting

BEAT IT: Recovered gambling addict Blayne Marcantelli gives an emotional address at the Responsible Gambling Awareness screening of the movie, Broke, at Ballina Cinema.

Lismore Baker raises awareness for problem gambling.

Elder’s art tells tales of past for today’s kids

INSPIRING: Uncle Digby Moran with Lismore Heights Public student Shannyah Hope at Lismore Regional Gallery.

Bundjalung Elder teaches heritage through art and stories.

Latest deals and offers

Local artists ‘paint’ the Opera House with light tonight

RHONDA Roberts and Karla Dickens' work will be seen by millions of visitors and Sydney-siders from tonight.

IS IT POSSIBLE? How to live alongside flying-foxes

A vexed questionof living with flying foxes will be discussed this Friday at the NPA forum.

THE conflict between urbanites and wildlife has a new battleground

Gamblers can beat betting

BEAT IT: Recovered gambling addict Blayne Marcantelli gives an emotional address at the Responsible Gambling Awareness screening of the movie, Broke, at Ballina Cinema.

Lismore Baker raises awareness for problem gambling.

Elder’s art tells tales of past for today’s kids

INSPIRING: Uncle Digby Moran with Lismore Heights Public student Shannyah Hope at Lismore Regional Gallery.

Bundjalung Elder teaches heritage through art and stories.

NSW lags but North Coast booms on renewable energy

But Northern Rivers moving ahead at "cracking pace"

VIDEO: The fastest, easiest way to peel a potato?

There is a fast way to peel potatoes.

This 30-second video shows how quickly you can peel a potato

The best retro movies of the week? May 27 - June 3

Gregory Peck Photo Contributed

This week TV fan get to see Tom Cruise in a 1980s classics

Perfect time to invest in Northern Rivers property

The Northern Rivers rental market is tighter than Sydney making it the perfect time for investors to get better returns out of property than superannuation or banks deposits.

Low interest rates and tight rental market are prime time to invest