Minerals Resource Rent Tax Repeal and Other Measures Bill 2013

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Not Proceeding 
Parliament no
44
Summary
The bill: repeals the
Minerals Resource Rent Tax Act 2012
,
Minerals Resource Rent Tax (Imposition—Customs) Act 2012
,
Minerals Resource Rent Tax (Imposition—Excise) Act 2012
  and
Minerals Resource Rent Tax (Imposition—General) Act 2012
; amends the:
Income Tax Assessment Act 1997
  and
Income Tax (Transitional Provisions) Act 1997
  to provide that companies can carry tax losses forward to use as a deduction for a future year;
Income Tax Assessment Act 1997
  to: amend the instant asset write-off threshold provisions for small business entities; provide that motor vehicle purchases made by small business entities will be treated as normal business assets for depreciation purposes; and provide that geothermal energy exploration and prospecting expenditure are no longer immediately deductible;
Superannuation Guarantee (Administration) Act 1992
  to delay increases in the superannuation guarantee rate for a two-year period;
Superannuation (Government Co-contribution for Low Income Earners) Act 2003
  to abolish the low income superannuation contribution;
Social Security Act 1991
  and
Social Security (Administration) Act 1999
  to abolish the income support bonus payment; and
A New Tax System (Family Assistance) Act 1999
,
A New Tax System (Family Assistance) (Administration) Act 1999
,
Income Tax Assessment Act 1997
  and
Social Security (Administration) Act 1999
  to abolish the schoolkids bonus payment; and makes consequential amendments to 13 Acts. 

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Progress

House of Representatives
13 Nov 2013Introduced and read a first time
13 Nov 2013Second reading moved
19 Nov 2013Second reading debate
20 Nov 2013Second reading debate
20 Nov 2013Second reading agreed to
20 Nov 2013Third reading agreed to
Senate
02 Dec 2013Introduced and read a first time
02 Dec 2013Second reading moved
18 Mar 2014Second reading debate
20 Mar 2014Second reading debate
24 Mar 2014Second reading debate
25 Mar 2014Second reading debate
25 Mar 2014Second reading negatived

Documents and transcripts

Text of bill

Word Format PDF Format

Explanatory memoranda

Word Format PDF Format

Transcript of speeches

Proposed amendments

Senate
Word Format PDF Format

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest PDF Format

Notes

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Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changed to the bill. For details about the outcome of proposed amendments please refer to either theĀ Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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