After almost a year of post-election obstruction, the Senate has finally repealed the Minerals Resource Rent Tax (MRRT).
The Chamber of Minerals and Energy of Western Australia (CME) Chief Executive Reg Howard-Smith welcomed today’s vote in the Senate.
“The MRRT abolition is significant achievement and delivers on one of the Abbott Government’s key election commitments,” said Mr Howard-Smith.
“The removal of unnecessary taxes such as the MRRT and carbon tax will assist the resources sector becoming more internationally competitive,” said Mr Howard-Smith.
“The MRRT has been both inefficient and ineffective while adding a significant compliance and regulatory burden to industry,” said Mr Howard-Smith.
The resource sector’s prime focus is on the high cost of doing business here in Australia. When combined with decreasing ore grades and new minerals and energy rich regions emerging around the world, maintaining Western Australia’s resources project competiveness is crucial.
