Minerals Resource Rent Tax Bill 2011 and related bills

The majority voted in favour of a motion to read the bills for a second time.

This means that the majority agree to the main idea of the bills, which was to introduce a minerals resource rent tax. The Senate can now discuss them in detail.

Background to the bills

These eleven bills were introduced as a package to create a minerals resource rent tax ('MRRT').(Read more about the MRRT here.) The tax is set to begin on 1 July 2012 and apply to profits earned from the extraction of mineral resources such as coal and iron ore.

The eleven bills are:

• Minerals Resource Rent Tax Bill 2011
• Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Bill 2011
• Minerals Resource Rent Tax (Imposition—General) Bill 2011
• Minerals Resource Rent Tax (Imposition—Customs) Bill 2011
• Minerals Resource Rent Tax (Imposition—Excise) Bill 2011
• Petroleum Resource Rent Tax Assessment Amendment Bill 2011
• Petroleum Resource Rent Tax (Imposition—General) Bill 2011
• Petroleum Resource Rent Tax (Imposition—Customs) Bill 2011
• Petroleum Resource Rent Tax (Imposition—Excise) Bill 2011
• Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011
• Superannuation Guarantee (Administration) Amendment Bill 2011