Grandfather clause-

'The MRRT starting base is intended to recognise the investment in certain assets relevant to the upstream mining operations that entities had before the announcement on 2 May 2010 of the new resource tax arrangements. It also covers, in some circumstances, certain further expenditure incurred in relation to these assets, new assets or certain specified activities before 1 July 2012.

The benefit of a starting base is available for all interests in coal and iron ore tenements that existed on 1 May 2010.'

Source: http://www.ato.gov.au/content/00340553.htm

Obviously mines not in existence at that time will not have a starting base.
Small cap miners, that were in existence,will not have as big an asset base as the large miners and will therefore pay MRRT before the big miners.

It has already been reported that the big miners did not pay ANY MRRT. Where then did it come from?

Andrew Probyn is, as I said the Federal Economics Editor for the West.

Yes, I was merely the messenger reporting on what someone else wrote, that's why I said don't shoot me.:)

Luciferase, you are starting to act like a 'it's not fair labor supporter' who's party is in for the flogging of a life time.

The simple fact is that the three amigos, went into a meeting with the big miners, with one agenda, that was to shut them up, at any cost, and what a cost it turned out to be.

Utter incompetence is about the only way to describe these fools who call themselves the brains trust.

Their list of failures is too long to describe, as there is a limit per post on OLO, so perhaps it would be so much easier to post their list of achievements and remember, simply passing legislation is not an achievement until the legislation has been successfully implemented.

As for the big miners, they would already have a 'plan B' worked out for when the depreciation credits have been exhausted. So it is most unlikely they will ever pay the MRRT, thanks in large to the brains trust we call the government.

"It has already been reported that the big miners did not pay ANY MRRT. Where then did it come from?"

Well, if it came from low cap miners making small margins then it demonstrates that the bigs with their big margins will be contributing significantly when their credits run out.

As for miner's plan B, we make the rules. Australians run Australia and the miners will meet the letter and the spirit of our laws, unless the Coalition lets them off the hook as they want to do now by repealing the MRRT.

It's not fair, rechtub? Those minerals belong to our children and damned if I'll see them keep going for a song, even if you're happy. A little shortfall in MRRT collected now doesn't phase me but don't be too cut, rechtub, that the MRRT hasn't cough up much yet. It will.

Luciferase, I didn't say they weren't making profits; just not making super profits.
'Data from the Australian Bureau of Statistics show that from 1987 to 2009 the nominal before-tax rate of return on capital in the mining sector averaged 12.5 per cent.'

http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1006&context=smartpapers

'It goes on to say that due to the design of the tax it will be 5-10 years before the big boys pay MRRT.'

From my earlier post.

But then again that is only on the basis that they will continue to make these profits. There is no guarantee.

'Those minerals belong to our children'

They belong to the mining states.