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Clifford Chance

Clifford Chance

Briefings

Australia's Minerals Resource Rent Tax in force from July 2012

3 April 2012

Australia's Minerals Resource Rent Tax in force from July 2012

On 19 March 2012, the Australian Parliament passed legislation for a mining tax
on iron ore and coal. The new tax, known as the Minerals Resource Rent Tax
(MRRT), will apply from 1 July 2012.
The Australian Treasury forecasts revenue of A$10.6 billion from the MRRT in
its first three years.
The MRRT legislation also extends coverage of the existing Petroleum
Resource Rent Tax (PRRT) so that from 1 July 2012 it will apply to all onshore
and offshore oil and gas production in Australia.
This briefing outlines the details of the MRRT and amended PRRT.

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