Miscellaneous amendments to the taxation laws relating to minerals resource rent tax

Amendments have been made to the minerals resource rent tax legislation.

The amendments seek to ensure the law operates as intended from the time it came into effect by correcting technical or drafting defects, removing anomalies and addressing unintended outcomes.

The amendments were to:

• Income Tax Assessment Act 1997
• Minerals Resource Rent Tax Act 2012
• Taxation Administration Act 1953.

The amendments generally apply from 1 July 2012.

Legislation and supporting material

The following legislation received royal assent on 27 June 2012:

• Tax Laws Amendment (2012 Measures No.1) Act 2012
• Explanatory Memorandum.

More information For more information refer to: Minerals resource rent tax Exposure Draft - miscellaneous amendments to the taxation laws released by Treasury on 13 February 2012.