THE mining tax is all but abolished after the Senate agreed to repeal the Labor impost with amendments.
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The Abbott government yesterday announced it had struck a deal with six crossbenchers, including Palmer United Party senators, to repeal the Minerals Resource Rent Tax.
After a debate in the Upper House that delayed the beginning of question time, the repeal legislation was finally passed 36 votes to 33.
The bill as amended still needs to be given the tick of approval in the House of Representatives, where the government has the numbers.
Prime Minister Tony Abbott said the mining tax was possibly the most ‘‘stupid’’ tax ever devised.
The Australian Greens were scathing of the deal struck with Clive Palmer, which ensures several key household assistance packages will remain once the tax goes.
PUP has long opposed the mining tax but didn’t agree with these measures being changed.
Under the amended bill, the low-income super contribution will stay until June30, 2017 and the income-support bonus will remain in place until December 31, 2016.
Compulsory super will stay at its current level until July 1, 2021 when it will rise to 10 per cent. It will then increase annually until it reaches 12 per cent.
The school-kids bonus will be means tested so that only families earning up to $100,000 will qualify and it will remain until December31, 2016.