Download Word
Download PDF2010-2011
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Minerals Resource Rent Tax (Imposition—Customs) Bill 2011
No. , 2011
(Treasury)
A Bill for an Act to impose minerals resource rent tax, so far as that tax is a duty of customs
Contents
1............ Short title............................................................................................. 1
2............ Commencement................................................................................... 1
3............ Imposition........................................................................................... 2
4............ The MRRT rate................................................................................... 2
5............ Act does not impose a tax on property of a State................................ 2
A Bill for an Act to impose minerals resource rent tax, so far as that tax is a duty of customs
The Parliament of Australia enacts:
This Act may be cited as the Minerals Resource Rent Tax (Imposition—Customs) Act 2011 .
This Act commences on 1 July 2012.
(1) Minerals resource rent tax payable under the Minerals Resource Rent Tax Act 2011 is imposed.
(2) However, this section imposes minerals resource rent tax only so far as that tax is a duty of customs within the meaning of section 55 of the Constitution.
The MRRT rate is:
where:
extraction factor is 25%.
5 Act does not impose a tax on property of a State
(1) This Act does not impose a tax on property of any kind belonging to a State.
(2) In this section, property of any kind belonging to a State has the same meaning as in section 114 of the Constitution.