Modified Mineral Resources Rent Tax provides clarity.
Posted 02/07/2010
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Media Release
FOR IMMEDIATE RELEASE
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Modified Mineral Resources Rent Tax provides clarity.
The Bendigo Business Council said today that the announcement of a modified Mineral Resources Rent Tax demonstrates the need for governments to consult and negotiate with business.
BBC executive officer Kevin de Vries said "Today's announcement not only resolves a problem for new Prime Minister Gillard, but recognises recent failures to involve business in decisions of national significance."
"Although the compromise means that proposed cuts to company tax rates will less than previously announced, the BBC believes it is important that the Government restores the national budget to surplus as soon as possible."
"Nobody likes taxation; however the introduction of the MRRT recognises that the Australia's mineral assets do have a value to the nation." Mr de Vries said. "Over the past two months Australians have developed a greater appreciation of the benefits that mining brings to the Australian economy and some of the risks and challenges associated with the sector."
"The BBC hopes that today's announcement is an acknowledgement by the Federal Government that early and active engagement and discussion with business is important. We will examine each party's approach to business consultation as we lead into the coming election."
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