Mining Industry Advertising Campaign Starts Again

The mining industry has turned to advertising to argue its case against increased mining taxes.

The Minerals Council of Australia has placed the advertisement below on page 9 of today’s edition of the Financial Review. It also appears in The Australian.

The advertisement comes as debate over the lack of revenue from the Gillard government’s mining tax gathers pace. It coincides with an interview yesterday with former Prime Minister Kevin Rudd in which he laid the blame for the tax at the feet of Prime Minister Julia Gillard and Treasurer Wayne Swan.

An advertising campaign by the mining industry in 2010 played a role in the downfall of Kevin Rudd.

Minerals Council



Kevin Rudd Interviewed On Anniversary Of Stolen Generations Apology

This interview with Kevin Rudd was conducted by David Speers and shown on Sky News.

Rudd discusses the anniversary of the Apology to the Stolen Generations and the retirement of Pope Benedict XVI.

He also obliquely criticises Prime Minister Julia Gillard and Treasurer Wayne Swan over their handling of the mining tax.

This is Rudd’s speech to Reconciliation South Australia on February 13, 2013:



Mining Tax Raises $126 Million In First Six Months

The Treasurer, Wayne Swan, has announced that the mining tax has raised $126 million in its first six months.

The Minerals Resource Rent Tax was budgeted to raised $2 billion in its first year.

Text of statement from the Treasurer, Wayne Swan.

Minerals Resource Rent Tax revenue

Today, the Australian Tax Office has provided the Government with combined Minerals Resource Rent Tax revenue figures for the first two quarters of the 2012-13 financial year.

Combined revenue from the first two quarters of the MRRT totalled $126m.

It’s clear revenues from resource rent taxes have taken a massive hit from the impact of continued global instability, commodity price volatility and a high dollar.

Revenues across the board are down very substantially – MRRT is a profits-based tax that raises more revenue when profits are higher and less when they are lower.

The Government has always supported increased transparency in our tax system and we believe any revenue from the MRRT should be published – which is why I am making this information public after it was received earlier today.

The Assistant Treasurer is leading the Government’s work to broaden transparency in the business tax system, including in relation to MRRT revenue, and remove any ambiguity from reporting requirements.

The information being released today was provided by the ATO following recent collections after it was satisfied disclosing two quarters’ instalments would not breach taxpayer confidentiality provisions of the Taxation Administration Act 1953.

The information provided by the ATO today is attached [PDF 99KB].