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Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Bill 2011

2010-2011-2012

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

As passed by both Houses

 

 

 

 

 

 

 

 

 

Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Bill 2012

 

No.      , 2012

 

 

 

 

 

A Bill for an Act to make consequential amendments and deal with transitional matters arising from the enactment of the Minerals Resource Rent Tax Act 2012 , and for other purposes

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedule(s)......................................................................................... 3

Schedule 1—Amendment of the Taxation Administration Act 1953 not related to assessments               4

Schedule 2—Amendments related to assessments                                             45

Part 1—Amendments                                                                                                   45

Taxation Administration Act 1953                                                                          45

Part 2—Alternative amendments                                                                           48

Administrative Decisions (Judicial Review) Act 1977                                        48

Income Tax Assessment Act 1997                                                                             48

Taxation Administration Act 1953                                                                          49

Schedule 3—Amendment of other Acts                                                                  62

Part 1—Amendments commencing at the same time as the Minerals Resource Rent Tax Act 2012 commences                                                                                                      62

Administrative Decisions (Judicial Review) Act 1977                                        62

A New Tax System (Goods and Services Tax) Act 1999                                       62

Crimes (Taxation Offences) Act 1980                                                                     62

Income Tax Assessment Act 1997                                                                             64

Taxation (Interest on Overpayments and Early Payments) Act 1983               77

Part 2—Amendments with other commencements                                       78

Administrative Decisions (Judicial Review) Act 1977                                        78

Income Tax Assessment Act 1997                                                                             78

Minerals Resource Rent Tax Act 2012                                                                   78

Schedule 4—Application and transitional provisions                                     79

Part 1—Preliminary                                                                                                       79

Part 2—General liability rules                                                                                  80

Part 3—MRRT allowances                                                                                        81

Part 4—Specialist liability rules                                                                              82

Part 5—Administration                                                                                               85

 



A Bill for an Act to make consequential amendments and deal with transitional matters arising from the enactment of the Minerals Resource Rent Tax Act 2012 , and for other purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provision(s)

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1

At the same time as the Minerals Resource Rent Tax Act 2012 commences.

 

3.  Schedule 2, Part 1

Immediately after the commencement of Schedule 1 to the Indirect Tax Laws Amendment (Assessment) Act 2012 .

However, the provision(s) do not commence at all if that Act does not receive the Royal Assent before 1 July 2012.

 

4.  Schedule 2, Part 2

At the same time as the Minerals Resource Rent Tax Act 2012 commences.

However, the provision(s) do not commence at all if the Indirect Tax Laws Amendment (Assessment) Act 2012 receives the Royal Assent before 1 July 2012.

 

5.  Schedule 3, Part 1

At the same time as the Minerals Resource Rent Tax Act 2012 commences.

 

6.  Schedule 3, item 90

Immediately after the commencement of Schedule 1 to the Indirect Tax Laws Amendment (Assessment) Act 2012 .

However, the provision(s) do not commence at all if that Act does not receive the Royal Assent before 1 July 2012.

 

7.  Schedule 3, item 91

At the same time as the Minerals Resource Rent Tax Act 2012 commences.

However, if section 3 of the Clean Energy Act 2011 commences on 1 July 2012, the provision(s) commence immediately after that commencement.

 

8.  Schedule 3, item 92

The later of:

(a) immediately after the commencement of the provision(s) covered by table item 2; and

(b) at the same time as section 3 of the Clean Energy Act 2011 commences.

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

 

9.  Schedule 4

At the same time as the Minerals Resource Rent Tax Act 2012 commences.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedule(s)

                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.