Secrets and lies – the mining tax explained

A triumphant Julia Gillard announced the passage of the Mineral Resources Rent Tax through the Lower House today, after a late night deal done with The Greens. But how much do we understand what the tax actually means ?
There’s now a lot of argument between the states and the federal government about the difference between the royalties tax – which states currently collect – and the new resources rent tax, which the federal government will collect.
Catherine Zengerer asks Crikey Canberra Correspondent Bernard Keane to explain the difference.
This interview first appeared on The Wire

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