Federal Register of Legislation - Australian Government

Primary content

A Bill for an Act to amend the law relating to taxation, and for related purposes
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Registered 22 Mar 2013
Introduced HR 18 Mar 2013
Table of contents.

2010‑2011‑2012‑2013

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

Tax Laws Amendment (Disclosure of MRRT Information) Bill 2013

 

No.      , 2013

 

(Mr Hockey)

 

 

 

A Bill for an Act to amend the law relating to taxation, and for related purposes

  

  

 


Contents

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

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

3............ Schedule(s)......................................................................................... 1

Schedule 1—Amendments                                                                                                3

Minerals Resource Rent Tax Act 2012                                                                    3

Taxation Administration Act 1953                                                                           3

 


A Bill for an Act to amend the law relating to taxation, and for related purposes

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Tax Laws Amendment (Disclosure of MRRT Information) Act 2013.

2  Commencement

                   This Act commences on the day after this Act receives the Royal Assent.

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                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.


 

Schedule 1Amendments

  

Minerals Resource Rent Tax Act 2012

1  Before section 235‑1

Insert:

235‑1A  Report about collection of MRRT

             (1)  The Minister must prepare a report setting out:

                     (a)  for each *instalment quarter in relation to an *MRRT year—the total instalments paid for the quarter; and

                     (b)  for each MRRT year—the total amount of *MRRT paid for the year.

             (2)  The Minister must prepare a report required by subsection (1) as soon as practicable after the end of the *instalment quarter or *MRRT year concerned.

             (3)  The Minister must cause a copy of the report to be laid before each House of the Parliament within 6 sitting days of that House after the report is prepared.

Taxation Administration Act 1953

2  Subsection 355‑55(1) in Schedule 1 (after table item 3)

Insert:

3A

the Minister

is to inform the Minister about the total instalments paid for an *instalment quarter in relation to an *MRRT year, or the total amount of *MRRT paid in an *MRRT year, for the purpose of the information being included in the Minister’s report under section 235‑1A of the Minerals Resource Rent Tax Act 2012.

3  Application of amendments

(1)       The amendments made by this Schedule apply in relation to instalment quarters and MRRT years whether ending before or after this Act commences.

(2)       The requirement in subsection 235‑1A(2) of the Minerals Resource Rent Tax Act 2012 to prepare a report as soon as practicable after the end of an instalment quarter or an MRRT year is, in relation to an instalment quarter or MRRT year that ends before this Act commences, taken to be a requirement to prepare the report as soon as practicable after this Act commences.