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Mining Tax Clears, but Gillard on Shaky Ground

Prime Minister Julia Gillard celebrated on Tuesday the passage of a controversial tax on profits generated by Australia’s enormous mining boom, a much needed legislative victory for the embattled leader, who recently survived an embarrassing leadership challenge from within her own Labor Party. Ms. Gillard hailed the Minerals Resource Rent Tax, as the legislation is known, after it passed the Senate late Monday night by a vote of 38 to 32 with the support of the Greens. The law, which is to go into effect July 1, places a 30 percent tax on the profits of the largest iron ore and coal miners in Australia.
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Carbon tax passes the Australian Senate

'Green letter day'

The Federal Government's controversial climate legislation has passed the Senate 36-32 and will now become law from mid-next year.

From July 2012, polluting industries will pay $23 per tonne of carbon emissions and households will be compensated for extra costs through tax cuts and increased benefits.

 

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Goff re-enforces Greens-Labour pact

Labour expects to go into a full coalition with the Greens and give its leaders Russel Norman and Metiria Turei ministerial posts, Labour leader Phil Goff said today.

"I think the Greens would be a partner to the Labour-led Government and I would expect them to be in formal coalition with us."

But he said it was too soon to say what portfolios might be offered.

"We have to get there. When we are there we we'll make those decisions and in consultation with our partners."

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Taiwan proposes new energy & emissions taxes

The Cabinet’s Tax Reform Committee yesterday reached a consensus to introduce an incremental levy on gasoline, diesel, gas and other energy sources, as well as on greenhouse gas emissions, but remained undecided over proposed pollution taxes. 
 
The reforms, seeking to enhance energy conservation and rein in the nation’s carbon dioxide emissions, will head next to the Cabinet and legislature and, if agreed, are expected to take effect in 2011. 
 

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