Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

During question time the Treasurer claimed that I made certain comments today about the refund of royalties by the Commonwealth government to the mining companies and that they were false. I refer the Treasurer to the heads of agreement which he, the Prime Minister and the Minister for Resources signed. It states:

All state and territory royalties will be creditable against the resources tax liability but not transferable or fundable. Any royalties paid and not claimed as a credit will be carried forward at the uplift rate of long-term bond rate plus seven per cent.

I seek leave to table the document that they signed, together with chapter 3 from the legislation, which talks about the—

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