House of Representatives

Minerals Resource Rent Tax Repeal and Other Measures Bill 2014

Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon J. B. Hockey MP)


The following abbreviations and acronyms are used throughout this explanatory memorandum.

Abbreviation Definition
ATI adjusted taxable income
CGT capital gains tax
Commissioner Commissioner of Taxation
ISB income support bonus
ITAA 1997 Income Tax Assessment Act 1997
IT(TP) Act 1997 Income Tax (Transitional Provisions) Act 1997
LISC low income superannuation contribution
MRRT Imposition Acts Minerals Resource Rent Tax (Imposition-Customs) Act 2012, Minerals Resource Rent Tax (Imposition-Excise) Act 2012 and the Minerals Resource Rent Tax (Imposition-General) Act 2012
MRRT Minerals Resource Rent Tax
MRRTA 2012 Minerals Resource Rent Tax Act 2012
PRRT Petroleum Resource Rent Tax
PRRTAA 1987 Petroleum Resource Rent Tax Assessment Act 1987
SG superannuation guarantee
SGAA 1992 Superannuation Guarantee (Administration) Act 1992
SGLIA Superannuation (Government Co-contribution for Low Income Earners) Act 2003
SKB schoolkids bonus
TAA 1953 Taxation Administration Act 1953

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