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MRRT Takes Effect in Australia, Groups Mount New Challenge
Australia’s Minerals Resources Rent Tax (MRRT) was introduced with the carbon tax on July 1, 2012. The Queensland Liberal National Party (LNP) government has joined Fortescue Metals Group in challenging the mining tax in the High Court, according to the Brisbane Times. Tony Abbott, the Leader of the Opposition in the Australian House of Representatives and federal leader of the center-right Liberal Party of Australia, told reporters in Perth that it was “perfectly reasonable” for states to challenge the mining tax, noting the MRRT particularly targeted resource-rich states.