The end of the Mining Tax will be a welcome relief for NSW

September 02, 2014

The NSW Minerals Council welcomes today’s agreement to repeal the Minerals Resource Rent Tax or ‘mining tax’.

The repeal of the tax will be good news for the NSW economy and for thousands of mine workers across the state, as well as those working in the more than 10,500 businesses across NSW that supply our mines.

The mining tax is a dead weight on our state’s largest commodity export industry. It has failed to raise any significant revenue for taxpayers and acted in unison with the carbon tax as a disincentive for job-generating mining investment in NSW.
 
Mining has a solid future in NSW, but only if governments get the policy settings right. This tax is a very poor policy. At a time when NSW is struggling to attract mining capital investment, its repeal by the national Parliament will remove one obstacle to further investment.

Contact: Chris Rath | crath@nswmining.com.au | 0409 758 734 | 02 9274 1419

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