Minerals Resource Rent Tax Repeal and Other Measures Bill 2013

The majority voted in favour of a motion to agree to the bill. This vote ends the discussion of the bill in detail and the House can now vote on whether to pass the bill, which they subsequently did without further division.

Once the bill is passed in the House, it is then sent to the Senate for their consideration.

Background to the bill

The bill was introduced by Treasurer Joe Hockey to repeal the minerals resource rent tax ('MRRT'), which the Coalition called the “mining tax”.(You can read more about the MRRT here. ) The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore. Its abolition was an election promise of the Coalition during the 2013 election campaign.(You can read the Coalition's policy here.)

The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.