By leaving mining tax settings unchanged in the 2026-27 Federal Budget, the Albanese Government has stood up for Australia's largest taxpayer which is supporting the nation during uncertain times.
In addition to not imposing new taxes, the government has also supported mining through the Australian Fuel Security and Resilience package which will improve fuel security - especially vital diesel supplies - for minerals extraction and processing.
This approach shows the government understands mining's immense contribution to Australia's economy, jobs and regional communities.
Backing mining supports national resilience, because a stronger mining sector can make an even bigger contribution to help fund Medicare, education, defence and other vital services and infrastructure.
Other Budget announcements with a positive impact on Australian mining if implemented swiftly and effectively include:
- Funding of $105.9 million for faster approvals under the EPBC Act using AI – a key MCA policy priority - which will have productivity benefits, given that approval delays are a handbrake on the economy with multiple mining projects, more than 5000 kms of transmission lines and 26,000 homes caught up in an approvals backlog
- $47.6 million for bilateral agreements with states and territories so mining projects only have to go through one assessment track
- A permanent two-year loss carry back for businesses with up to $1 billion in annual turnover
- Making the Instant Asset Write-Off permanent, benefiting thousands of small businesses in the nationwide mining supply chain
- Skilled migration changes including faster skills assessment for migrant trades workers and accelerating occupational licensing so skilled migrants can play a bigger part in reducing a looming talent crunch in the nation's minerals industry.
