assignment 1 (Mineral Resource Rent Tax (MRRT). - Case Study Example

Only on StudentShare

Extract of sample
assignment 1 (Mineral Resource Rent Tax (MRRT).

Introduction of RSPT would lead to reduction in the income tax but it was expected that such would not lead to the reduction in revenue, since the decrease in tax would encourage companies to undertake more projects which would lead to rise in the revenue. This increase in revenue would be utilized by the government of Australia for bringing about infrastructure development in the country. The Australian Government decided to provide the resource entities with a refundable credit for the royalties paid by them in the previous years, so that the mining companies receive an extra relaxation on their taxation policies and they are encouraged towards revenue generation. Introduction The Australian Government accepted the proposal of the Australia’s Future Tax System Review to introduce a tax charge on the resource rents and the super profits earned by the mining companies from the exploitation of the non-renewable resources of Australia. This new tax policy will be known as Resource Super Profits Tax (RSPT). The RSPT would provide the community of Australia with a share of income that will be derived from the extraction and sale of non-renewable resources of Australia in countries all over the world. ...Show more


Assignment 1 (Mineral Resource Rent Tax (MRRT) Executive Summary The Government of Australia will introduce the Resource Super Profits Tax (RSPT) under the recommendation of the Australia’s Future Tax System Review. The RSPT will ensure equal distribution of profits among all Australian mining companies and the government…
Author : damorerafaela
Save Your Time for More Important Things
Let us write a custom case study on your topic
"assignment 1 (Mineral Resource Rent Tax (MRRT)."
with a personal 20% discount.
Find out more

Related Essays

Income Tax and Corporation Tax in the United Kingdom
The report will cover the following: the scope & core rules of income tax and corporation tax; direct taxes v indirect taxes; revenue generated by direct & indirect taxes; tax revenues & UK government expenditure; progressivity of income tax & corporation tax in the UK; responsibility of notification of income and payment of tax.
15 pages (3750 words) Essay
Accounting and Society(The Minerals Resource Rent Tax)
The Government of Australia has proposed a new resource rent tax known as Mineral Resource Rent Tax (MRRT) that will be effective from the beginning of July in 2012. It replaces the earlier proposed Resource Super Profits Tax or RSPT. Australia is quite rich in its natural resources in the form of minerals, oil, natural gas, etc.
12 pages (3000 words) Essay
Is CEO Compensation Directly Related to Performance
This research article will highlight the impact of CEO’s compensation and promotion based incentives and their related performance. It is difficult task for assessing the executive compensation and evaluating whether they are working in favor of their investors (Antle, 1986).
3 pages (750 words) Term Paper
Tax Advice Assignment
You can analyze certain aspects of taxation in respect of: 1. How does taxation affect a business after incorporation- its pros and cons. 2. Setting up of a company on equal shareholding basis and retaining Chloe as Company Secretary and finally, 3. Tax efficient profit withdrawal.
7 pages (1750 words) Essay
Assignment 3: Tax Credits
23). Since 1940s, the U.S tax code has undergone many modifications to ensure justice to taxpayers as well as to generate revenue for the federal government. Tax credits, along with other instruments such as tax deductions and tax exemptions, was used to protecting various income groups and business enterprises during economic downturn (economic instability).
8 pages (2000 words) Research Paper
Assignment 3: Tax Reform
Individual shareholders paid tax at a rate of a minimum 15% on qualifying corporate dividends, and about 10 to 20% lower than them federal tax rate which is at times as high as 35%. Those taxpayers who are currently paying a marginal federal tan of 10 to 15% pay no taxes for qualifying dividends as well as any long-term capital gains.
5 pages (1250 words) Essay
Assignment 4: Estate Tax
The responsibility of IRS includes collection of taxes in US and enforcing the Internal Revenue Code that is framed by the US federal government. Currently IRS has divided its interest and audit functions under four divisions, namely the Large and International Business, the Small Business and Self-employed, Wages and Investment division and the Government organizations (exempted from tax).
6 pages (1500 words) Essay
Assignment 1
Accountants play a vital role as they are the ones to perform these functions. The accounting professionals also use to the latter all the accounting process in performing those functions. They identify accounting information by using a set of accounts based on a system referred to as the double entry bookkeeping.
5 pages (1250 words) Assignment
what is shadow banking?
The introduction of shadow banking in the industry has led scholars to examine the concept of this new sector and categorize its services and operations in a clear manner. This paper defines shadow banking, highlights
11 pages (2750 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email