Mining tax: Henry v Rudd (1 Viewer)

[murphyad]

I have a question for you economic-minded folk on this board.

The Henry Tax review advocated a 40% 'resource rent tax' and a reduction in the company tax rate to 25%. Mr Rudd took this and turned it into a 'super profits tax' on mining companies with a corresponding drop in the company tax rate to 28%.

My question is this:

What (if any) is the difference between a 'resource rent tax' and the mining tax that Rudd has proposed?

This might be dumb but I know shit about economics and that's why I'm curious.

 

[JohnMcGee]

It was proposed by Rudd, of course!

 

[Slidey]

I believe a super profits tax only kicks in for those companies making very high profits, while a resource rent tax is ubiquitous, but I'm not 100% sure.