Federal Register of Legislation - Australian Government

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Act No. 15 of 2012 as made
An Act to impose minerals resource rent tax, so far as that tax is a duty of customs
Administered by: Treasury
Originating Bill: Minerals Resource Rent Tax (Imposition—Customs) Bill 2011
Registered 02 Apr 2012
Date of Assent 29 Mar 2012
Date of repeal 30 Sep 2014
Repealed by Minerals Resource Rent Tax Repeal and Other Measures Act 2014
Table of contents.

 

 

 

 

 

 

Minerals Resource Rent Tax (Imposition—Customs) Act 2012

 

No. 15, 2012

 

 

 

 

 

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................................................................................... 2

3............ Imposition........................................................................................... 2

4............ The MRRT rate................................................................................... 2

5............ Act does not impose a tax on property of a State................................ 2

 


 

 

Minerals Resource Rent Tax (Imposition—Customs) Act 2012

No. 15, 2012

 

 

 

An Act to impose minerals resource rent tax, so far as that tax is a duty of customs

[Assented to 29 March 2012]

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Minerals Resource Rent Tax (Imposition—Customs) Act 2012.

2  Commencement

                   This Act commences on 1 July 2012.

3  Imposition

             (1)  Minerals resource rent tax payable under the Minerals Resource Rent Tax Act 2012 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.

4  The MRRT rate

                   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.


[Minister’s second reading speech made in—

House of Representatives on 2 November 2011

Senate on 7 February 2012]

(233/11)