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We will close miners asset loop hole: Greens

The Greens currently have a bill before House and the Senate which would close the royalties loopholes. The Greens will now also move amendments to close additional loopholes in the mining tax, which allow mining companies to exaggerate the value of their assets to get a higher tax break.

Closing the depreciation loophole, which allows the big miners to deduct the market value of existing assets over many years instead of deducting the book value over 5 years, could eventually save almost $2 billion a year in lost revenue.

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Revenue crisis means gov must ditch surplus: Bandt

Government accounts released today, detailing a massive shortfall in mining tax revenue, require the government to ditch its surplus straightjacket, says Acting Greens Leader Adam Bandt MP.

"An early political surplus is now a fool's errand," Mr Bandt said.

"There is a growing revenue crisis in this country."

"Unless Labor is prepared to take on big business and fix the mining tax, the only way of reaching an early political surplus is to make massive cuts that will hurt people, small business and the economy."

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Cross-bench joins Greens to plug hole in mining tax

Greens Leader, Christine Milne, and Deputy Leader, Adam Bandt, have welcomed the support of lower house cross-benchers for a Greens bill to plug the royalties hole in the MRRT.

Following Senator Milne's introduction of the Minerals Resource Rent Tax (Protecting Revenue) Bill 2012 into the Senate, Mr Bandt today gave notice he will introduce the bill into the house.

The bill will ensure the Commonwealth loses no revenue when State governments raise royalties and will generate $2.2bn in revenue over the next 3 years.

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Don’t slug single parents - make mining giants pay their share

Having moved amendments, motions and bills to fix the poorly designed Mining Tax, the Greens will raise with the Prime Minister the urgent need to fix the tax and plug the growing revenue hole that is seeing single parents, job-seekers and researchers go without.

"You have to ask what is 'Labor' about allowing multi-billion dollar mining companies to avoid paying their fair share while slugging single parents, refusing to lift the appallingly low Newstart allowance and cutting funding for research and training," Australian Greens Leader, Senator Christine Milne, said.

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Greens move to scrap royalty free ride from mining tax

Speaking on Meet the Press today, Greens Deputy Leader Adam Bandt has said the Greens will move to scrap the royalty rebate contained in the mining tax legislation.

Mr Bandt said that the Greiner/Brumby review of the mining royalties has confirmed the inherently flawed nature of the government's royalty deal with the big miners. If the rebate was retained, it would put the Commonwealth's mining tax revenue at the mercy of the States, Mr Bandt said.

"We will move in Parliament as soon as possible to remove this unsustainable deal on royalties", Mr Bandt said.

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Govt reneging on skills promise

Greens MP and employment and industry spokesperson, Adam Bandt, says the government is ignoring commitments made at Budget time last year to train Australian workers.

The Greens warned at the time that the government's skills package could lead to the mining industry ignoring Australian workers and our worst fears seem to be coming true, Mr Bandt said.

Mr Bandt called for the urgent fast-tracking of a National Skills Register that would help find work for skilled people in the non-mining states on mining and resource projects.

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