henry review at a glance, page-30

I am typing with baby in one hand and insufficient time to find insufficient content on the other. Supernormal profit (not defined in the glossary) is I think covered by a wrongly described definition for economic rent .

"Resource rent tax
A tax that applies to the super normal profits, or economic rent of a resource project.

Economic rents
An economic rent is the excess of the return to a factor of production above the amount that is required to sustain the current use of the factor (or to entice the use of the factor). For example, if a worker is paid $100,000 but would still be willing to work at the same job if they were paid $75,000, their economic rent would be $25,000." (Henry Review Glossary)

What is proposed my be descibed politely as nebulous word crap and would be effectively uncollectable from an ATO perspectve. What would be collectable is AN INCREASED ROYALTIES BASED ON INDUSTRY AVERAGES! If anyone else has any idea how ATO workability could be better gained please post it. Like you I can only guess.

Beware and be alert. IMHO it's all just roundabout speak for higher royalties.