Division Description Changes — Bills — Minerals Resource Rent Tax Repeal and Other Measures Bill 2013; Second Reading — 20th Nov 2013

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representatives vote 2013-11-20#1

Edited by mackay staff

on 2014-10-09 15:38:23

Title

Description

  • The majority voted in favour of a [motion](http://www.openaustralia.org/debate/?id=2013-11-20.123.11) to read the bill a second time.
  • This means that the majority agree with the main idea of the bills and that the House can now discuss them in detail.
  • _Background to the bill_
  • The bill was introduced by Treasurer [Joe Hockey](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives) to repeal the [minerals resource rent tax](http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax) ('MRRT'), which the Coalition called the “mining tax”.(You can read more about the MRRT [here](http://www.ato.gov.au/Business/Minerals-resource-rent-tax/). ) 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](http://liberal.org.au/our-plan/5-pillar-economy).)
  • The bill also repeals the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus), the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) and the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/).
  • References
  • The majority voted in favour of a [motion](http://www.openaustralia.org/debate/?id=2013-11-20.123.11) to read the bill a second time.
  • This means that the majority agree with the main idea of the bills and that the House can now discuss them in detail.
  • _Background to the bill_
  • The bill was introduced by Treasurer [Joe Hockey](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives) to repeal the [minerals resource rent tax](http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax) ('MRRT'), which the Coalition called the “mining tax”.(You can read more about the MRRT [here](http://www.ato.gov.au/Business/Minerals-resource-rent-tax/). ) 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](http://liberal.org.au/our-plan/5-pillar-economy).)
  • The bill also repeals the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus), the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) and the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/).
representatives vote 2013-11-20#1

Edited by system

on 2014-10-07 16:21:25

Title

Description

  • The majority voted in favour of a [http://www.openaustralia.org/debate/?id=2013-11-20.123.11 motion] to read the bill a second time.
  • This means that the majority agree with the main idea of the bills and that the House can now discuss them in detail.
  • ''Background to the bill''
  • The bill was introduced by Treasurer [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives Joe Hockey] to repeal the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax minerals resource rent tax] ('MRRT'), which the Coalition called the “mining tax”.(You can read more about the MRRT [http://www.ato.gov.au/Business/Minerals-resource-rent-tax/ 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 [http://liberal.org.au/our-plan/5-pillar-economy here].)
  • The bill also repeals the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution].
  • References
  • The majority voted in favour of a [motion](http://www.openaustralia.org/debate/?id=2013-11-20.123.11) to read the bill a second time.
  • This means that the majority agree with the main idea of the bills and that the House can now discuss them in detail.
  • _Background to the bill_
  • The bill was introduced by Treasurer [Joe Hockey](http://publicwhip-rails.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives) to repeal the [minerals resource rent tax](http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax) ('MRRT'), which the Coalition called the “mining tax”.(You can read more about the MRRT [here](http://www.ato.gov.au/Business/Minerals-resource-rent-tax/). ) 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](http://liberal.org.au/our-plan/5-pillar-economy).)
  • The bill also repeals the [schoolkids bonus](http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus), the [income support bonus](http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus) and the [low income superannuation contribution](http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/).
  • References
representatives vote 2013-11-20#1

Edited by system

on 2014-10-07 16:16:56

Title

Description

  • The majority voted in favour of a [http://www.openaustralia.org/debate/?id=2013-11-20.123.11 motion] to read the bill a second time.
  • This means that the majority agree with the main idea of the bills and that the House can now discuss them in detail.
  • ''Background to the bill''
  • The bill was introduced by Treasurer [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives Joe Hockey] to repeal the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax minerals resource rent tax] ('MRRT'), which the Coalition called the “mining tax”.[1] 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.[2]
  • The bill was introduced by Treasurer [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives Joe Hockey] to repeal the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax minerals resource rent tax] ('MRRT'), which the Coalition called the “mining tax”.(You can read more about the MRRT [http://www.ato.gov.au/Business/Minerals-resource-rent-tax/ 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 [http://liberal.org.au/our-plan/5-pillar-economy here].)
  • The bill also repeals the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution].
  • References
  • * [1] You can read more about the MRRT [http://www.ato.gov.au/Business/Minerals-resource-rent-tax/ here].
  • * [2] You can read the Coalition's policy [http://liberal.org.au/our-plan/5-pillar-economy here].
representatives vote 2013-11-20#1

Edited by mackay staff

on 2014-02-14 10:10:47

Title

  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 - Second Reading - Read the bills a second time
  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 - Second Reading - Read a second time

Description

  • The majority voted in favour of a [http://www.openaustralia.org/debate/?id=2013-11-20.123.11 motion] to read the bill a second time.
  • This means that the majority agree with the main idea of the bills and that the House can now discuss them in detail.
  • ''Background to the bills''
  • ''Background to the bill''
  • The bill was introduced by Treasurer [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives Joe Hockey] to repeal the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax minerals resource rent tax] ('MRRT'), which the Coalition called the “mining tax”.[1] 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.[2]
  • The bill also repeals the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution].
  • References
  • * [1] You can read more about the MRRT [http://www.ato.gov.au/Business/Minerals-resource-rent-tax/ here].
  • * [2] You can read the Coalition's policy [http://liberal.org.au/our-plan/5-pillar-economy here].
  • * [2] You can read the Coalition's policy [http://liberal.org.au/our-plan/5-pillar-economy here].
representatives vote 2013-11-20#1

Edited by mackay staff

on 2014-02-14 10:10:23

Title

  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 - Second Reading - Abolish the minerals resource rent tax
  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 - Second Reading - Read the bills a second time

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the <a href="http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5142">bill</a> a second time.</p>
  • The majority voted in favour of a [http://www.openaustralia.org/debate/?id=2013-11-20.123.11 motion] to read the bill a second time.
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • This means that the majority agree with the main idea of the bills and that the House can now discuss them in detail.
  • <p><b>Summary of the debate in Parliament</b></p>
  • ''Background to the bills''
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • The bill was introduced by Treasurer [http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives Joe Hockey] to repeal the [http://en.wikipedia.org/wiki/Minerals_Resource_Rent_Tax minerals resource rent tax] ('MRRT'), which the Coalition called the “mining tax”.[1] 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.[2]
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • The bill also repeals the [http://www.dss.gov.au/our-responsibilities/families-and-children/benefits-payments/schoolkids-bonus schoolkids bonus], the [http://www.humanservices.gov.au/customer/services/centrelink/income-support-bonus income support bonus] and the [http://www.ato.gov.au/Individuals/Super/In-detail/Contributions/Low-income-super-contribution/ low income superannuation contribution].
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing [but] has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0138;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. 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 <a href="http://liberal.org.au/our-plan/5-pillar-economy">election promise</a> of the Coalition during the 2013 election campaign.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
  • References
  • * [1] You can read more about the MRRT [http://www.ato.gov.au/Business/Minerals-resource-rent-tax/ here].
  • * [2] You can read the Coalition's policy [http://liberal.org.au/our-plan/5-pillar-economy here].
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-20 12:33:47

Title

  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 - Second Reading - Repeal the minerals resource rent tax
  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 - Second Reading - Abolish the minerals resource rent tax

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the <a href="http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5142">bill</a> a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing [but] has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0138;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. 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 <a href="http://liberal.org.au/our-plan/5-pillar-economy">election promise</a> of the Coalition during the 2013 election campaign.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-13 11:37:15

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the <a href="http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r5142">bill</a> a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing [but] has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0138;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. 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 <a href="http://liberal.org.au/our-plan/5-pillar-economy">election promise</a> of the Coalition during the 2013 election campaign.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 14:37:19

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing [but] has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0138;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. 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 a <a href="http://liberal.org.au/our-plan/5-pillar-economy">key election promise</a> of the Coalition during the 2013 election campaign.</p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. 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 <a href="http://liberal.org.au/our-plan/5-pillar-economy">election promise</a> of the Coalition during the 2013 election campaign.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 14:36:56

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing [but] has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0138;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. 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 a <a href="http://liberal.org.au/our-plan/5-pillar-economy">key election promise</a> of the Coalition during the 2013 election campaign.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 14:24:14

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing [but] has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0138;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Liberal MP Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill was introduced by Treasurer Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the Coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 14:22:11

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing by has driven so much investment offshore”.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing [but] has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but did <a href="">say</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0138;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Liberal MP Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 14:12:13

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key figures from each party that contributed.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key contributions from each party that participated in the debate.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing by has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but did <a href="">say</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Liberal MP Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 13:55:57

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key figures from each party that contributed.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing by has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but did <a href="">say</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Liberal MP Joe Hockey to repeal the minerals resource rent tax, which the coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill was introduced by Liberal MP Joe Hockey to repeal the <a href="http://www.ato.gov.au/Business/Minerals-resource-rent-tax/">minerals resource rent tax</a>, which the coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill also repeals the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
  • <p>The bill would also repeal the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 13:53:25

Title

Description

  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key figures from each party that contributed.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> opposed the bill and <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He criticised the bill for repealing the low income superannuation contribution, saying that it was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also said the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles for small business shows that the Coalition Government “are strong on rhetoric, short on action”. He said that the Coalition Government must also explain how “taking money away from the school kids bonus is going to help the cost of living”. He argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He said that the repeal of the low income superannuation contribution was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also criticised the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles. Finally, he argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing by has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but did <a href="">say</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Liberal MP Joe Hockey to repeal the minerals resource rent tax, which the coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill would also repeal the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
representatives vote 2013-11-20#1

Edited by mackay staff

on 2013-12-12 13:47:01

Title

  • Bills — Minerals Resource Rent Tax Repeal and Other Measures Bill 2013; Second Reading
  • Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 - Second Reading - Repeal the minerals resource rent tax

Description

  • <p class="speaker">Bob Katter</p>
  • <p>I continue and conclude my remarks on the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013. It is quite extraordinary, because it is arguable that this tax cost more to raise than it delivered to the government in revenue. One company told me that it would have cost $3 million&#8212;it could have been as high as $7 million&#8212;to actually collect this tax and send it to the government. Because we have allowed all of these companies to be foreign owned, and they are making massive profits sometimes, I think there may be a bit of a case with iron ore, coal or something like that. But the people of Kennedy will be delivering our vote and our support to abolish this tax and get rid of it. If there is some idea that comes back in another form it might be worth looking at, but we are in favour of this bill and will vote accordingly.</p>
  • <p class="speaker">Bruce Scott</p>
  • <p>The majority <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0141;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">voted</a> to read the bills a second time.</p>
  • <p>This means that the majority have agreed to the main idea of the bills and the House can now discuss them in detail.</p>
  • <p><b>Summary of the debate in Parliament</b></p>
  • <p>The bill was introduced by Treasurer Joe Hockey MP.</p>
  • <p>Altogether, twenty-four MPs spoke during the second reading debate. Below is a summary of some of the key figures from each party that contributed.</p>
  • <ul><li>Liberal MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Joe_Hockey&mpc=North_Sydney&house=representatives">Joe Hockey</a> introduced the bill to repeal the minerals resource rent tax, which he <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0072;query=Id%3A%22chamber%2Fhansardr%2Fd93bc084-2c64-4d16-99f7-8c6872537c13%2F0000%22">said</a> “raised barely a 10th of what was foreshadowed”. He said that abolishing it will actually “deliver $13.4 billion in budget savings over the forward estimates”.</li>
  • <li>Labor MP and Shadow Treasurer <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Chris_Bowen&mpc=McMahon&house=representatives">Chris Bowen</a> opposed the bill and <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0089;query=Id%3A%22chamber%2Fhansardr%2Fcbaa06fe-b02e-4ba8-9fde-fd279b7b8579%2F0000%22">compared</a> the minerals resource rent tax to the petroleum resource rent tax, which was introduced by the Hawke Labor Government and remains in force today. He criticised the bill for repealing the low income superannuation contribution, saying that it was “class warfare” and “has a particularly adverse effect on females in the workforce”. He also said the repeal of the instant asset write-off for small business and the accelerated depreciation of motor vehicles for small business shows that the Coalition Government “are strong on rhetoric, short on action”. He said that the Coalition Government must also explain how “taking money away from the school kids bonus is going to help the cost of living”. He argued that the “minerals resource rent tax was never designed to pay for the schoolkids bonus” and so it is wrong to argue that the tax did not make enough to cover the cost of this measure.</li>
  • <li>Nationals MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bruce_Scott&mpc=Maranoa&house=representatives">Bruce Scott</a>, the Deputy Speaker, <a href="http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;db=CHAMBER;id=chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0139;query=Id%3A%22chamber%2Fhansardr%2Fe674bc2a-82df-4a25-981b-1f2bab3d0b16%2F0000%22">said</a> that many projects have “stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing by has driven so much investment offshore”.</li>
  • <li>Katter’s Australian Party MP <a href="http://publicwhip-test.openaustraliafoundation.org.au/mp.php?mpn=Bob_Katter&mpc=Kennedy&house=representatives">Bob Katter</a> was against the bill but did <a href="">say</a> “[i]f there is some idea that comes back in another form it might be worth looking at”.</li></ul>
  • <p><b>Background to the bills</b></p>
  • <p>The bill was introduced by Liberal MP Joe Hockey to repeal the minerals resource rent tax, which the coalition called the “mining tax”. The tax began 1 July 2012 and applies to profits earned from the extraction of mineral resources such as coal and iron ore.</p>
  • <p>The bill would also repeal the schoolkids bonus, the income support bonus and the low income superannuation contribution.</p>
  • <p>I rise to speak on the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013. I want to make a few remarks in the limited time I have available. I represent the seat of Maranoa in the state of Queensland and, of course, Queensland is a powerhouse when it comes to natural resources. We have seen so many projects stalled as a result of the previous government's introduction of not only the carbon tax but also this minerals resource rent tax which has collected nothing but has driven so much investment offshore.</p>
  • <p>In my electorate I have the Tarong power station at Stanwell near Kingaroy. There is a new mine there, the Meandu mine, which was purchased to secure the long-term coal source for the Tarong power station. There is also the Kogan Creek power station, just west of Dalby, and of course the Wilkie Creek coal mine near Dalby, which has had to lay off staff recently. I know that they are significantly worried about their future. These are people who live in the town of Dalby or who come off farms. They are farm workers or members of families who own farms and have been able to get a job at the Wilkie Creek mine. This enables them, in these difficult farming times, to keep the family and the farm together. But I know, as I talk to the people of Peabody and the local workers and the management there, that they have real problems trying to keep the mine viable. Another driving factor behind that is this minerals resource rent tax, which puts a dark cloud over the investment.</p>
  • <p>In the Galilee Basin in my electorate, way back in 1981 the Queensland department of mines at the time estimated that there were resources there of some 800 million tonnes near Alpha. In 2008, Waratah Coal announced the discovery of 4,400 million tonnes of coal still sitting there in the ground. I am sure that the investment opportunities there would not be lost in this chamber, but I make the point that here is another project that has investors worried, because if a minerals resource rent tax applies to such an investment, and there is a potential for jobs that could be created from that investment, it is sitting on hold. Companies like GVK, Hancock Coal and Waratah Coal are all there, waiting, I am sure, to see this minerals resource rent tax abolished&#8212;which gives them greater confidence to proceed with the project. There are the Glencore Xstrata leases there at Wandoan. It was going to export something like 30 million tonnes of coal a year. And now they have done all the work and it is sitting there. They have proven up and they have gone into arrangements to purchase land. They were going to build a railway line&#8212;in a standard gauge, for heaven's sake&#8212;from Wandoan to Gladstone, which would have been a terrific step forward in rail in Queensland, I have got to say, to start to see some standard gauge rail built. But it sits there on hold, and I understand that Glencore&#8212;I am advised by the member for Flynn&#8212;are rather keen to sell their port facility or access at Gladstone, because they have very real doubt as to the viability of that mine whilst ever this minerals resource rent tax hangs over the Wandoan project.</p>
  • <p>It is not just the Wandoan project there. If that railway line were built, other mines would also develop with smaller operators in the area and this would create jobs&#8212;not only for workers who would come from near and far but also for the many farmers and their children in the near area who would get jobs, which would enable them to keep the farm because there would be another income coming into the family.</p>
  • <p>The other thing that is a great irony is that the Labor Party said that this minerals resource rent tax would generate some $26.5 billion over five years&#8212;and how much has it raised? Four hundred million dollars. But they went out and started to commit the money. One of those projects was a $7 million contribution to the levy bank at Roma to protect the town of Roma from future flooding. They announced it but they did not sign the contract. But they had it in the budget. When we came to government I had to go to the Deputy Prime Minister, who said, 'We will honour that project', notwithstanding that there had not been a contract signed. I was delighted to think that, on this side of the House, we will sign these contracts. We are a mature government and we will operate in a businesslike manner.</p>
  • <p class="speaker">Bronwyn Bishop</p>
  • <p>It being 5.30 pm, in accordance with the resolution agreed to yesterday, I call the parliamentary secretary.</p>
  • <p class="italic"> <i>Opposition members interjecting&#8212;</i></p>
  • <p class="speaker">Steven Ciobo</p>
  • <p>I have not said a word and I am already getting heckled by the opposition. It shows the tone that they present in this House. I rise to provide a summary in terms of debate around the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013.</p>
  • <p>I must say, it has been very interesting and instructive to listen to the debate that has been put forward in this chamber throughout the debate surrounding this particular bill. In particular I take interest in the contribution made by the shadow Treasurer. It was quite fascinating to see the way the shadow Treasurer&#8212;and, indeed, through the shadow Treasurer, the Labor Party&#8212;continues to not appreciate in any way shape or form the serious challenges that lie before the government to repair the damage that was initiated by the Labor Party.</p>
  • <p>In particular I was fascinated that the shadow Treasurer, in his contribution here at the dispatch box, made comments&#8212;a number of which were quite erroneous&#8212;with respect to the operation of the MRRT. I was quite fascinated to hear the contribution&#8212;</p>
  • <p class="italic">Mr Bowen interjecting&#8212;</p>
  • <p>I take the interjection from the shadow Treasurer about the contribution that I made on <i>The Nation</i>. The Labor Party has the view that their minerals resource rent tax had no impact in terms of the mining sector. I have an interesting article from <i>The Sydney Morning Herald</i>, from 24 August 2012. The headline is: 'Taxes a drag on coal, Kloppers warns investors'. I just want to highlight that Marius Kloppers was of course a CEO of the Big Australian, as BHP is known. The lead paragraph says:</p>
  • <p class="italic">BHP Billiton head Marius Kloppers has told European investors that Australia's carbon and mining taxes have helped to render the nation's coal industry unworthy of further investment at this time.</p>
  • <p>For the benefit of the member opposite, I will table that article. It is quite extraordinary. You see, the head of the Big Australian makes it crystal clear that Labor's minerals resource rent tax was an impediment to investment in this country. But Labor continues to deny it. What's more, they even made comment&#8212;and I quote the shadow Treasurer&#8212;who said:</p>
  • <p class="italic">On this side of the House&#8212;</p>
  • <p>That is of course the opposition side&#8212;</p>
  • <p>we believe that a profits based tax on profits from the minerals sector&#8212;minerals which belong to the Australian people&#8212;is a good reform. That is not to say that it does not have its challenges in implementation, it does not have its challenges in design.</p>
  • <p>There is an understatement if ever I heard one. If there is an understatement today, the prize has to go to the shadow Treasurer.</p>
  • <p>The shadow Treasurer talks about the minerals resource rent tax that the Labor Party introduced. When it was first introduced, it was meant to raise $49.5 billion. Then Labor said, 'Well, we anticipate that it will actually be a little less than that, and we anticipate that it will raise somewhere around $24 billion'. But then, what do we actually know? What did Labor do? Labor, after announcing their minerals resource rent tax, hitched a whole amount of expenditure in relation to it, some $16 billion worth of expenditure.</p>
  • <p>The extraordinary thing about Labor's contribution and the so-called challenges in design and challenges in terms of implementation&#8212;the understatement that came from the shadow Treasurer&#8212;is that as a consequence of the poor implementation and the poor design of Labor's minerals resource rent tax we actually have a situation where, by abolishing this act, this tax, we will be saving Australian taxpayers $13.4 billion. That is a net saving of $13.4 billion. So it is a tax that was initially meant to raise $49.5 billion but in net terms has actually only raised $400 million; and by abolishing it we save Australians some $13 billion. The shadow Treasurer say, 'Look, there's a couple of challenges around design and implementation, but they are just little challenges'&#8212;</p>
  • <p class="speaker">Chris Bowen</p>
  • <p>Is the schoolkids bonus a good thing or a bad thing?</p>
  • <p class="speaker">Steven Ciobo</p>
  • <p>We have another interjection from the shadow Treasurer. Let's talk about the schoolkids bonus. I notice that the shadow Treasurer made further comments in his contribution. Again, let me quote:</p>
  • <p class="italic">The minerals resource rent tax was never designed to pay for the schoolkids bonus. If you look at the announcements at the time, the minerals resource rent tax was never introduced to pay for the schoolkids bonus.</p>
  • <p>He is nodding in agreement. How fascinating. Perhaps the shadow Treasurer should have had a chat to the former finance minister, because Penny Wong made this comment on 891 ABC Adelaide, <i>Drive</i> with Michael Smith, on 6 June 2012. Let me read back to you, Shadow Treasurer, what your finance minister at the time said: 'I think it is about making sure we use the benefits of the boom wisely,' and 'I think the government's approach with the mining tax and making sure the benefits of that flow through to families, particularly low- and middle-income families through the schoolkids bonus&#8212;where people get assistance for kids' education costs&#8212;does that.' That is what the former finance minister said and&#8212;</p>
  • <p class="speaker">Chris Bowen</p>
  • <p>That's what you've got?</p>
  • <p class='motion-notice motion-notice-truncated'>Long debate text truncated.</p>