Digging through the details
The new minerals resource rent tax (MRRT) and expanded petroleum resource rent tax (PRRT)
On 2 July 2010, the Government announced further significant changes to taxation of the resources sector. The original proposal of a resource super profits tax (RSPT) has now been replaced by a minerals resource rent tax (MRRT). The scope of the petroleum resource rent tax (PRRT) has also been expanded to capture both offshore and onshore oil and gas extraction profits. For the details of the changes, please open the attached PDF.