The MINING TAX

[nero_bolt]

The MINING tax will be repealed 

http://www.canberratimes.com.au/federal-politics/the-pulse-live/politics-live-september-2-2014-20140...

PUP's Glenn Lazarus stands.

He says he would like to inform the Parliament that "we support these amendments".

The mining tax has to go, he says.

"This is a win for hard-working Australians across the country," he says - noting that the low income super contribution, low income support measures and newly means tested school kids bonus will stay in place, at least for the next couple of years.

(All of a sudden, PUP's resistance has crumbled away.)

Joe Hockey has also been in the chamber to check out the progress of the mining tax repeal.

Just now, he shook hands with Clive Palmer.

Done deal.

Read more: http://www.smh.com.au/federal-politics/the-pulse-live/politics-live-september-2-2014-20140902-3epta....

Clive Palmer is up the back of the Senate to listen in to all of this.

: What is the exact wording of the amendments?

• They "further" adjust the proposed timetable for increasing the superannuation guarantee percentage change to 12 per cent, by pausing the rate at 9.5 per cent until 2020-21. It is not due to reach 12 per cent until at least July 1 2025.
• The repeal date for the low income superannuation contribution will "apply" for 2017-18 and beyond;
• The repeal date for the income support bonus will be 31 December 2016; and
• The Schoolkids bonus will be repealed on 31 December 2016 and an income asset test will be applied.

Read more: http://www.smh.com.au/federal-politics/the-pulse-live/politics-live-september-2-2014-20140902-3epta....

Read more: http://www.smh.com.au/federal-politics/the-pulse-live/politics-live-september-2-2014-20140902-3epta....

[nero_bolt]

Government reaches deal with PUP, Ricky Muir to repeal mining tax

Read more at http://www.9news.com.au/national/2014/09/02/12/49/government-makes-deal-with-pup-and-ricky-muir-to-r...

[lightningdance]

Wow, another failed labor party policy consigned to that big box of labor failures  in the sky.

 Poetic justice to see that despicable  Christine Milne screaming in high dudgeon in the senate today. The phony marriage between labor and the greens finally in tatters although labor will return to their deadly embrace because thats what they do.

So  the elected government, swept in on a tidal wave, is slowly and surely making all their policies, taken to the people, pass.

The budget is 95% passed so alls well in the land of OZ, a proper  government in charge and labor still ignorant of its failures and repudiation by the voters.

[boris1gary]

Hoorah Hoorah Hoorah,  less money for Aussies, More money for Miners, Hoorah Hoorah Hoorah....oh wait...less money for war....so who will be paying for tones war effort......

[lightningdance]

OH DEAR! getting more strident and shrill by the day isn't it.

The highlighted text in different colours, big text is sooooooo  funnyyyyy.

Mining tax gone.....CHECK

[debra9275]

I think it's not too bad, we keep the school kids bonus (earning up to 100k) till 2016

Low income supplement kept till 2016

The super isn't good news especially for the people in that age bracket who didn't have super for all their working lives

2016 I'm pretty sure we'll have a new govt anyway

I am just listening to them crowing about it now, Clive always wanted it gone because it is a tax on big miners profits.What I do find odd though is that the govt. Has been saying that the mining tax was always a failure, & yet it funded the school kids bonus & low income support payments etc. That just doesn't make any sense

[nero_bolt]

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@debra9275 wrote:
 yet it funded the school kids bonus & low income support payments etc. That just doesn't make any sense

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No it didnt and thats the issue, the failed mining tax raised less that it paid out and cost more to tax that it raised as well.

Yet people want to keep the free handouts that no one had 2 years ago until Gillard dreamed up this failed socialist scheme... 

[boris1gary]

oh well 2017 - i am sure those with young kiddies will be delighted

http://www.theguardian.com/world/2014/sep/02/government-secures-mining-tax-repeal-deal-but-at-65bn-c...

cost to the budgets bottom line $6.5 billion, less super to retire on - hoorah, another broken promise from abbott - hurrah

In changes that will cost the budget bottom line $6.5bn, the government has agreed to:

• keep the schoolkids bonus until December 2017, with a slight toughening oF the means test

• keep the low income superannuation contribution until 30 June 2017

• keep the income support bonus until 31 December 2016.

It is currently legislated to increase to 10% in 2015-16 and then by 0.5% each year to reach 12% in 2019-20. After the deal goes through it will be frozen at 9.5% and won’t reach 10% until 2021.

Labor reacted with fury to the government’s plan to slam the deal through the senate with minimal debate, but with the support of PUP, Muir and Family First senator Bob Day, it does not have the numbers to block it.

Labor said delaying the superannuation increase was a clear breach of a promise by Tony Abbott – that he would not make “any adverse changes to superannuation in this term of parliament” – in order to keep his promise to abolish a tax for the big miners.

[debra9275]

IMO the miners are taking from our country, I don't have a problem with them giving something back.

So without the mining tax how are they going to fund these payments till 2016?

[lightningdance]

Totally correct, the failed tax raised about 126 million and cost twice that much to implement.

I am always amazed that the lies and propaganda spouted by the last labor govt was swallowed and regurgitated on here and other places as fact.

Bill Shortsighted is pleased the tax has gone,  along with the CT then he can cover himself with self righteos humbug and he  wont have to get rid of them.