Mining tax passed – What it means for Blaxland

Federal Member for Blaxland Jason Clare said the passing of the Mineral Resources Rent Tax (MRRT) means local residents and local businesses will get a fairer share of the mining boom.

This means:

  • Every local worker will get an increase in their superannuation – a 30 year old worker on $50,000 a year will receive an extra $108,000 when they retire;
  • Local taxpayers will be able to claim a $500 tax deduction from 1 July 2012;
  • Every local business will get a tax cut or tax break; and
  • Extra money for regional infrastructure like roads and bridges.

“We have a two speed economy. The mining industry is booming, but here in Western Sydney unemployment is still high and manufacturing companies are doing it tough,” Mr Clare said.

“This is about making sure everyone benefits from the mining boom.

“45,200 workers in Blaxland will get an increase in their super, and our 15,500 small businesses will get a tax break or a tax cut.”

“The Liberals voted against the MRRT – they said no to the increase in superannuation and no to the tax cuts and tax breaks for businesses.

“If the Liberal Party is elected at the next election workers will retire with less superannuation increases and businesses will pay more tax.