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.

Together we're united for 6.8m regional Australians

Fairgo for regional australia.

Open letter to Malcolm Turnbull and bill Shorten

NSW Regional Arts Fund applications open

LOCAL: Arts Northern Rivers 2016 RAF Project, If These Halls Could Talk, featured Beryl from Roundabout Theatre’s The Cupcakes.

Are you preparing an artistic project for 2017?

Snoop Wogg? We ask leaders the (un)important questions

The pop culture and lifestyle trivia we posed to Australian leaders

Latest deals and offers

Turnbull, Shorten in dead heat on election eve: polling

VERY few Australians expect Opposition Leader Bill Shorten to actually win on Saturday, but half will still vote for Labor as their first or second choice.

Together we're united for 6.8m regional Australians

Fairgo for regional australia.

Open letter to Malcolm Turnbull and bill Shorten

NSW Regional Arts Fund applications open

LOCAL: Arts Northern Rivers 2016 RAF Project, If These Halls Could Talk, featured Beryl from Roundabout Theatre’s The Cupcakes.

Are you preparing an artistic project for 2017?

Snoop Wogg? We ask leaders the (un)important questions

The pop culture and lifestyle trivia we posed to Australian leaders

Victim tells why paedophiles should not be named

Woman says whole lot of harm can come from shaming campaign

Lismore construction boom triggered by hospital upgrade

See where the cash is being spent on development in the city

Chasing Asylum documentary to screen locally

An image from the film Chasing Asylum by Australian director Eva Orner.

The latest film by Academy Award winner Australian Eva Orner

PROPERTY BOOM: Coast prices set to skyrocket

Like other areas in south-east Queensland, the Sunshine Coast is at the start of the upturn on the property clock.

Values predicted to rise 25-33%

DIY: How to build a backyard fire pit

DIY stars and Weekend magazine columnists Ayden and Jess Hogan.

Would you build this for your backyard?