Clifford Chance
Australia's Minerals Resource Rent Tax in force from July 2012 [Japanese version]
25 June 2012
Australia's 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.
