Mining magnate MP Clive Palmer denies any conflict of interest in his party’s decision to vote in support of killing off the mining tax.

The government reached a deal with six crossbenchers, including Palmer United Party senators, to repeal the tax on Tuesday.

Mr Palmer insists the move makes no difference to his coal mining interests in Queensland.

• Super changes are an utter disgrace: funds
• Bill Shorten slams superannuation changes

He’s “retired” and is not the chairman of any company, he says.

“We all pay tax. Does that mean that members of parliament don’t vote on income tax bills?” he told reporters in Canberra.

Iron ore interests were not a factor: Palmer. Photo: ABC

Mr Palmer hailed the axing of the tax, saying foreign mining investments would now return to Australia and create jobs.

“(The MRRT has) done a lot of damage to Australia and hasn’t raised any money,” Mr Palmer said.

“This is a very sad day for the Canadian mineral resources minister and a worse day for the South African resources minister.”

He defended delays to increased compulsory super contributions that will come as a result of the move and denied he’d helped the government break an election promise.

He believes it’s more important for Australian families to have access to those funds now, not in 50 years.

“We know as a statistical fact that over 50 per cent of Australians will be dead by the time they get access to their super,” Mr Palmer said.

Australians would be able to bargain stronger for wages as a result of delays to the super increases, he said.

Superannuation contributions will remain at 9.5 per cent until 2021, despite politicians receiving 15 per cent super.

“Get rid of politicians’ super, don’t pay them anything,” Mr Palmer said, adding he gave his salary away to charity.