Repeal of mining tax needed for jobs and investment

July 18, 2014

NSW miners are urging the Federal Parliament to repeal the Minerals Resource Rent Tax (MRRT) which is a dead weight on our state’s largest commodity export industry.

To protect jobs and investment the repeal of the MRRT should be allowed to pass both Houses of Parliament.

The MRRT has failed to raise any significant revenue for Australian taxpayers and threatens mining investment in NSW, which means lost job opportunities for workers in regional communities.

NSW mining already pays $1.3 billion a year in royalties to the state government, enough to fund 11,000 teachers in our schools or construct two new hospitals and redevelop another every single year.

The impact of the MRRT also places an unnecessary burden on the more than 10,500 businesses servicing the NSW mining industry from Western Sydney to Western NSW and from the Illawarra to the Hunter Valley. 

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