{"id":"C2014A00096","name":"Minerals Resource Rent Tax Repeal and Other Measures Act 2014","slug":"minerals-resource-rent-tax-repeal-and-other-measures-act-2014","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"96 of 2014","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":8520,"registerId":"commonwealth-C2014A00096-current","compilationNumber":null,"startDate":"2026-03-30","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"#### 1 Short title\n\n This Act may be cited as the Minerals Resource Rent Tax Repeal and Other Measures Act 2014.","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n (1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.\n\n```html\n

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

5 September 2014

2. Schedules 1 to 5

A day or days to be fixed by Proclamation.

However, if any of the provisions do not commence within the period of 12 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

30 September 2014

(F2014L01256)

3. Schedule 6

The day this Act receives the Royal Assent.

5 September 2014

4. Schedule 7

1 July 2017.

1 July 2017

5. Schedule 8, items 1 to 11

31 December 2016.

31 December 2016

6. Schedule 8, items 12 and 13

The day this Act receives the Royal Assent.

5 September 2014

7. Schedule 8, items 15 to 26

31 December 2016.

31 December 2016

8. Schedule 9, Part 1A

The day this Act receives the Royal Assent.

5 September 2014

9. Schedule 9, Parts 1 and 2

31 December 2016.

31 December 2016

\n```\n\n> Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.\n\n (2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Schedules","content":"#### 3 Schedules\n\n Legislation 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.\n\nSchedule 1—Minerals resource rent tax\n\nPart 1—Repeals\n\nMinerals Resource Rent Tax Act 2012\n\n1 The whole of the Act\n\nRepeal the Act.\n\nMinerals Resource Rent Tax (Imposition—Customs) Act 2012\n\n2 The whole of the Act\n\nRepeal the Act.\n\nMinerals Resource Rent Tax (Imposition—Excise) Act 2012\n\n3 The whole of the Act\n\nRepeal the Act.\n\nMinerals Resource Rent Tax (Imposition—General) Act 2012\n\n4 The whole of the Act\n\nRepeal the Act.\n\nPart 2—Consequential amendments\n\nAdministrative Decisions (Judicial Review) Act 1977\n\n5 Paragraph (e) of Schedule 1\n\nOmit:\n\nMinerals Resource Rent Tax Act 2012\n\n6 Paragraph (e) of Schedule 1\n\nOmit “, 3‑15”.\n\nA New Tax System (Goods and Services Tax) Act 1999\n\n7 Paragraph 177‑12(4)(h)\n\nOmit “1987; or”, substitute “1987.”.\n\n8 Paragraph 177‑12(4)(i)\n\nRepeal the paragraph.\n\nCrimes (Taxation Offences) Act 1980\n\n9 Subsection 3(1) (definition of MRRT)\n\nRepeal the definition.\n\n10 Subsection 3(1) (definition of MRRT law)\n\nRepeal the definition.\n\n11 Part II (paragraph (i) of note to Part heading)\n\nOmit “Part X);”, substitute “Part X).”.\n\n12 Part II (paragraph (j) of note to Part heading)\n\nRepeal the paragraph.\n\n13 Part XI\n\nRepeal the Part.\n\nIncome Tax Assessment Act 1997\n\n14 Section 10‑5 (table item headed “minerals resource rent tax”)\n\nRepeal the item.\n\n15 Section 12‑5 (table item headed “capital allowances”)\n\nOmit:\n\n| Minerals Resource Rent Tax................... | 40‑751 |\n| --------------------------------------------- | ------ |\n\n16 Section 15‑85\n\nRepeal the section.\n\n17 Section 40‑725\n\nOmit:\n\n• paying minerals resource rent tax; and\n\n18 Section 40‑751\n\nRepeal the section.\n\n19 Subsection 703‑50(1) (note 2)\n\nRepeal the note.\n\n20 Subsection 719‑50(1) (note 2)\n\nRepeal the note.\n\n21 Subsection 721‑10(2) (table items 75, 80 and 85)\n\nRepeal the items.\n\n22 Subsection 721‑10(4)\n\nRepeal the subsection.\n\n23 Subsection 721‑10(6)\n\nOmit “subsections (4) and (5)”, substitute “subsection (5)”.\n\n24 Subsection 721‑10(6)\n\nOmit “those subsections”, substitute “that subsection”.\n\n25 Subsection 721‑25(1AA)\n\nRepeal the subsection.\n\n26 Subsections 721‑25(1B), (2) and (3)\n\nOmit “, (1A) and (1AA)”, substitute “and (1A)”.\n\n27 Section 960‑265 (table item 14)\n\nRepeal the item.\n\n28 Subsection 995‑1(1)\n\nRepeal the following definitions:\n\n (a) definition of allowance component;\n (b) definition of applicable instalment rate;\n (c) definition of arm’s length consideration.\n\n29 Subsection 995‑1(1) (definition of base value)\n\nRepeal the definition, substitute:\n\n> base value, of a \\*depreciating asset, has the meaning given by subsection 40‑70(1).\n\n30 Subsection 995‑1(1) (paragraph (b) of the definition of base year)\n\nOmit “1953; and”, substitute “1953.”.\n\n31 Subsection 995‑1(1) (paragraph (c) of the definition of base year)\n\nRepeal the paragraph.\n\n32 Subsection 995‑1(1) (definition of benchmark instalment rate)\n\nRepeal the definition, substitute:\n\n> benchmark instalment rate has the meaning given by sections 45‑360 and 45‑530 in Schedule 1 to the Taxation Administration Act 1953.\n\n33 Subsection 995‑1(1) (paragraph (c) of the definition of hold)\n\nOmit “section 420‑12; and”, substitute “section 420‑12.”.\n\n34 Subsection 995‑1(1) (paragraph (d) of the definition of hold)\n\nRepeal the paragraph.\n\n35 Subsection 995‑1(1) (note at the end of the definition of hold)\n\nRepeal the note.\n\n36 Subsection 995‑1(1) (definition of instalment income)\n\nRepeal the definition, substitute:\n\n> instalment income has the meaning given by sections 45‑120, 45‑260, 45‑280, 45‑285, 45‑286 and 45‑465 in Schedule 1 to the Taxation Administration Act 1953.\n\n37 Subsection 995‑1(1) (definition of instalment quarter)\n\nRepeal the definition, substitute:\n\n> instalment quarter has the meaning given by section 45‑60 in Schedule 1 to the Taxation Administration Act 1953.\n\n38 Subsection 995‑1(1)\n\nRepeal the following definitions:\n\n (a) definition of miner;\n (b) definition of mining expenditure;\n (c) definition of mining loss;\n (d) definition of mining profit;\n (e) definition of mining project interest;\n (f) definition of mining project split;\n (g) definition of mining project transfer;\n (h) definition of mining revenue;\n (i) definition of mining revenue event;\n (j) definition of MRRT;\n (k) definition of MRRT allowance;\n (l) definition of MRRT law;\n (m) definition of MRRT liability;\n (n) definition of MRRT payable;\n (o) definition of MRRT return;\n (p) definition of MRRT year.\n\n39 Subsection 995‑1(1)\n\nInsert:\n\n> petroleum resource rent tax amount means any debt or credit that arises directly under the \\*petroleum resource rent tax provisions.\n\n40 Subsection 995‑1(1)\n\nInsert:\n\n> petroleum resource rent tax provisions means the \\*petroleum resource rent tax law, other than \\*BAS provisions.\n\n41 Subsection 995‑1(1)\n\nRepeal the following definitions:\n\n (a) definition of pre‑mining expenditure;\n (b) definition of pre‑mining project interest;\n (c) definition of pre‑mining revenue;\n (d) definition of rehabilitation tax offset;\n (e) definition of resource rent tax amount;\n (f) definition of resource rent tax provisions;\n (g) definition of split percentage;\n (h) definition of starting base asset;\n (i) definition of starting base return.\n\n42 Subsection 995‑1(1) (definition of start time)\n\nRepeal the definition, substitute:\n\n> start time of a \\*depreciating asset has the meaning given by section 40‑60.\n\n43 Subsection 995‑1(1) (definition of taxable mining profit)\n\nRepeal the definition.\n\n44 Subsection 995‑1(1) (definition of taxable resource)\n\nRepeal the definition.\n\n45 Subsection 995‑1(1) (definition of termination value)\n\nRepeal the definition, substitute:\n\n> termination value has the meaning given by section 40‑300.\n\nMinerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012\n\n46 Schedule 4\n\nRepeal the Schedule.\n\nPetroleum Resource Rent Tax Assessment Act 1987\n\n47 Section 2 (note at the end of paragraph (b) of the definition of exploration permit)\n\nRepeal the note, substitute:\n\nNote: An authority or right may not be covered by this paragraph because it is the subject of a determination of the Resources Minister under section 2AA, or because the activities relating to petroleum are only incidental to the activities relating to other resources (see section 2AC).\n\n48 Section 2 (definition of petroleum)\n\nOmit “However, petroleum does not include a taxable resource within the meaning of the Minerals Resource Rent Tax Act 2012.”.\n\n49 Section 2 (note at the end of paragraph (c) of the definition of production licence)\n\nRepeal the note, substitute:\n\nNote: An authority or right may not be covered by this paragraph because it is the subject of a determination of the Resources Minister under section 2AA, or because it is limited to the incidental recovery of coal seam gas (see section 2AB).\n\n50 Section 2 (note at the end of paragraph (b) of the definition of retention lease)\n\nRepeal the note, substitute:\n\nNote: An authority or right may not be covered by this paragraph because it is the subject of a determination of the Resources Minister under section 2AA, or because the activities relating to petroleum are only incidental to the activities relating to other resources (see section 2AC).\n\n51 After section 2AA\n\nInsert:","sortOrder":2},{"sectionNumber":"2AB","sectionType":"section","heading":"Exclusion of incidental recovery of coal seam gas","content":"#### 2AB Exclusion of incidental recovery of coal seam gas\n\n (1) An authority or right under an Australian law is taken, for the purposes of this Act (other than this section), not to be an authority or right mentioned in paragraph (c) of the definition of production licence in section 2 if the only recovery of petroleum that is undertaken under the authority or right is recovery of coal seam gas, being recovery that:\n (a) is a necessary result of coal mining that the holder of the authority or right carries out under the authority or right; or\n (b) is necessary to ensure a safe working environment for coal mining carried out under the authority or right; or\n (c) is necessary to minimise the fugitive emission of methane or similar gases during the course of coal mining carried out under the authority or right.\n (2) This section does not apply to an authority or right that is the subject of a determination under subsection 2AA(1).","sortOrder":3},{"sectionNumber":"2AC","sectionType":"section","heading":"Exclusion of incidental exploration etc. for petroleum","content":"#### 2AC Exclusion of incidental exploration etc. for petroleum\n\n An authority or right under an Australian law is taken, for the purposes of this Act (other than this section), not to be:\n (a) an authority or right mentioned in paragraph (b) of the definition of exploration permit in section 2; or\n (b) an authority or right mentioned in paragraph (b) of the definition of retention lease in that section;\n if, to the extent that the authority or right permits activities of a kind mentioned in a subparagraph of that paragraph, it only permits them as an incident of exploration for resources other than petroleum.\n\n52 After subsection 37(2)\n\nInsert:\n\n (2A) Despite subsection (1), if:\n (a) a payment made by a person would, apart from this subsection, be exploration expenditure incurred by the person in relation to a petroleum project; and\n (b) the person holds, under an Australian law, an authority or right (however described) that permits activities relating to resources other than petroleum to be carried on in the eligible exploration or recovery area in relation to the project;\n the payment is taken, for the purposes of this Act, to be exploration expenditure only to the extent that it would be reasonable to conclude that the purpose of the payment is exploring for petroleum in order to obtain a commercial return from petroleum.\n (2B) An authority or right referred to in paragraph (2A)(b) may be a production licence, exploration permit or retention lease, including a production licence to which the petroleum project relates.\n (2C) Subsections (2A) and (2B) are to avoid doubt, and do not extend by implication the scope of subsection (1).\n\nTax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013\n\n53 Item 169 of Schedule 7\n\nAfter “any of the”, insert “petroleum”.\n\nTaxation Administration Act 1953\n\n54 Section 3D\n\nRepeal the section.\n\n55 Subsection 8AAB(4) (table items 19A, 45A and 45B)\n\nRepeal the items.\n\n56 Subparagraph 8AAZLG(1)(b)(ii)\n\nAfter “any of the”, insert “petroleum”.\n\n57 Paragraph 8AAZLH(1)(b)\n\nAfter “any of the”, insert “petroleum”.\n\n58 Section 14ZQ (definition of starting base assessment)\n\nRepeal the definition, substitute:\n\n> starting base assessment has the meaning given by clause 23 of Schedule 2 to the Petroleum Resource Rent Tax Assessment Act 1987.\n\n59 Subsections 14ZW(1AB) and (1AC)\n\nRepeal the subsections.\n\n60 Paragraph 11‑1(g) in Schedule 1\n\nRepeal the paragraph.\n\n61 Paragraphs 12‑330(1)(b) and 12‑335(2)(a) in Schedule 1\n\nOmit “, \\*MRRT”.\n\n62 Subsection 18‑10(3) in Schedule 1 (notes 1 and 2)\n\nRepeal the notes, substitute:\n\n> Note: Section 18‑55 provides a credit for amounts withheld in respect of petroleum resource rent tax.\n\n63 Group heading before section 18‑49 in Schedule 1\n\nRepeal the heading.\n\n64 Section 18‑49 in Schedule 1\n\nRepeal the section.\n\n65 Part 3‑15 in Schedule 1\n\nRepeal the Part.\n\n66 Paragraph 155‑5(2)(e) in Schedule 1\n\nRepeal the paragraph.\n\n67 Subsection 155‑15(1) in Schedule 1 (table item 4)\n\nRepeal the item.\n\n68 Subsection 155‑30(3) in Schedule 1\n\nRepeal the subsection, substitute:\n\n (3) This section does not apply if the \\*assessable amount is the \\*Division 293 tax payable by you in relation to an income year in relation to your \\*taxable contributions for the income year.\n\n69 Section 155‑55 in Schedule 1 (heading)\n\nRepeal the heading, substitute:","sortOrder":4},{"sectionNumber":"155‑55 Amendment to give effect to certa","sectionType":"section","heading":"155‑55 Amendment to give effect to certain anti‑avoidance declarations","content":"#### 155‑55 Amendment to give effect to certain anti‑avoidance declarations\n\n70 Paragraph 155‑55(b) in Schedule 1\n\nOmit “declarations); or”, substitute “declarations).”.\n\n71 Paragraph 155‑55(c) in Schedule 1\n\nRepeal the paragraph.\n\n72 Section 155‑55 in Schedule 1\n\nOmit “or determination”.\n\n73 Section 155‑57 in Schedule 1\n\nRepeal the section.\n\n74 Subsection 155‑90(1) in Schedule 1\n\nOmit “(1)”.\n\n75 Subsection 155‑90(2) in Schedule 1\n\nRepeal the subsection.\n\n76 Subsection 250‑10(2) in Schedule 1 (table items 39C, 39D and 136)\n\nRepeal the items.\n\n77 Section 280‑1 in Schedule 1\n\nOmit “minerals resource rent tax,”.\n\n78 Section 280‑50 in Schedule 1\n\nOmit “\\*MRRT,”.\n\n79 Section 280‑101 in Schedule 1\n\nRepeal the section.\n\n80 Paragraph 280‑105(1)(a) in Schedule 1\n\nOmit “\\*MRRT,”.\n\n81 Subsection 280‑110(1) in Schedule 1\n\nOmit “280‑101,”.\n\n82 Section 280‑170 in Schedule 1\n\nOmit “\\*MRRT,”.\n\n83 Section 284‑30 in Schedule 1 (note)\n\nRepeal the note.\n\n84 Section 284‑35 in Schedule 1 (note)\n\nRepeal the note.\n\n85 Paragraph 284‑75(2)(a) in Schedule 1\n\nOmit “\\*MRRT law or”.\n\n86 Paragraph 284‑75(2)(b) in Schedule 1\n\nOmit “MRRT law or”.\n\n87 Subsection 284‑80(1) in Schedule 1 (table items 3 and 4)\n\nOmit “, the \\*MRRT law”.\n\n88 Subsection 284‑80(1) in Schedule 1 (table item 4)\n\nOmit “, the MRRT law”.\n\n89 Subsection 284‑90(1) in Schedule 1 (cell at table item 4, column headed “In this situation:”)\n\nRepeal the cell, substitute:\n\n| You have a *shortfall amount, all or part of which resulted from you or your agent treating an *income tax law or the *petroleum resource rent tax law as applying to a matter or identical matters in a particular way that was not *reasonably arguable, and that amount is more than your *reasonably arguable threshold. |\n| ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |\n\n90 Paragraph 284‑90(3)(a) in Schedule 1\n\nRepeal the paragraph, substitute:\n\n (a) unless paragraph (b) applies—the greater of $10,000 or 1% of whichever of the following applies:\n (i) the income tax payable by the entity for the income year, worked out on the basis of the entity’s \\*income tax return;\n (ii) the \\*petroleum resource rent tax payable by the entity for the year of tax (within the meaning of the Petroleum Resource Rent Tax Assessment Act 1987) most closely corresponding to the income year, worked out on the basis of the entity’s return under Division 1 of Part VI of that Act; or\n\n91 Subsection 286‑75(2AA) in Schedule 1\n\nRepeal the subsection.\n\n92 Paragraph 286‑80(2)(a) in Schedule 1\n\nOmit “(2AA),”.\n\n93 Section 352‑1 in Schedule 1\n\nOmit “and the MRRT law”.\n\n94 Subdivision 352‑B in Schedule 1\n\nRepeal the Subdivision.\n\n95 Section 353‑17 in Schedule 1\n\nRepeal the section.\n\n96 Subsection 355‑50(1) in Schedule 1 (note 2)\n\nOmit “, 3D”.\n\n97 Paragraph 357‑55(faa) in Schedule 1\n\nRepeal the paragraph.\n\n98 Subsection 360‑5(1) in Schedule 1\n\nOmit “(other than a provision about \\*MRRT)”.\n\n99 Subsection 444‑5(1) in Schedule 1\n\nOmit “, the \\*MRRT law”.\n\n100 Subsections 444‑5(1A) and (1B) in Schedule 1\n\nRepeal the subsections.\n\n101 Subsection 444‑5(2) in Schedule 1\n\nOmit “, the \\*MRRT law”.\n\n102 Subsections 444‑10(1) and (2) in Schedule 1\n\nOmit “and the \\*MRRT law”.\n\n103 Subsection 444‑10(3) in Schedule 1\n\nOmit “or the \\*MRRT law”.\n\n104 Subsection 444‑10(5) in Schedule 1\n\nOmit “and the \\*MRRT law”.\n\n105 Section 444‑15 in Schedule 1\n\nOmit “or the \\*MRRT law”.\n\n106 Subsections 444‑30(1), (2) and (3) in Schedule 1\n\nOmit “, the \\*MRRT law”.\n\n107 Subsections 444‑70(1) and (2) in Schedule 1\n\nOmit “or the \\*MRRT law”.\n\n108 Subdivision 444‑F in Schedule 1\n\nRepeal the Subdivision.\n\nTaxation (Interest on Overpayments and Early Payments) Act 1983\n\n109 Subsection 3(1) (paragraph (d) of the definition of decision to which this Act applies)\n\nOmit “or 160”.\n\n110 Subsection 3C(1)\n\nOmit “(1) In”, substitute “In”.\n\n111 Subsection 3C(1) (table item 160)\n\nRepeal the item.\n\n112 Subsection 3C(2)\n\nRepeal the subsection.\n\n113 Section 12AA (heading)\n\nRepeal the heading, substitute:","sortOrder":5},{"sectionNumber":"12AA","sectionType":"section","heading":"Entitlement to interest for RBA surpluses after notification of BAS amount or petroleum resource rent tax amount","content":"#### 12AA Entitlement to interest for RBA surpluses after notification of BAS amount or petroleum resource rent tax amount\n\n114 Paragraph 12AA(a)\n\nBefore “resource rent tax amount”, insert “petroleum”.\n\n115 Section 12AA (note)\n\nBefore “resource rent tax amount”, insert “petroleum”.\n\n116 Paragraph 12AB(a)\n\nBefore “resource rent tax amount”, insert “petroleum”.\n\n117 Section 12AB (note)\n\nBefore “resource rent tax amount”, insert “petroleum”.\n\n118 Paragraph 12AC(b)\n\nBefore “resource rent tax amount”, insert “petroleum”.\n\n119 Section 12AC (note)\n\nBefore “resource rent tax amount”, insert “petroleum”.\n\n120 Section 12AF\n\nInsert:\n\n> petroleum resource rent tax amount has the same meaning as in subsection 995‑1(1) of the Tax Act.\n\n121 Section 12AF (definition of resource rent tax amount)\n\nRepeal the definition.\n\nPart 3—Transitional provisions\n\n122 Objects\n\nThe objects of this Part are:\n\n (a) to provide for the winding‑up of the minerals resource rent tax; and\n (b) to ensure the administration, collection and recovery of the minerals resource rent tax for the MRRT years ending on or before the day this Schedule commences; and\n (c) to continue taxpayers’ rights and obligations relating to MRRT years ending before that commencement.\n\n123 Effect of repeals and amendments on preceding MRRT years\n\n(1) Despite the repeals and amendments made by this Schedule, the Acts amended or repealed continue to apply, after the commencement of this Schedule, in relation to any MRRT year ending on or before the day this Schedule commences as if those repeals and amendments had not happened.\n\n(2) For the purposes of that continued application, any MRRT year that:\n\n (a) started before the commencement of this Schedule; and\n (b) would, apart from this subitem, end on or after that commencement;\n\nis taken to end on the day this Schedule commences.\n\n(3) To avoid doubt, for the purposes of that continued application, section 190‑20 of the Minerals Resource Rent Tax Act 2012 applies in relation to an MRRT year referred to in subitem (2) whether or not the MRRT year is an accounting period referred to in section 190‑10 of that Act.\n\nNote 1: Section 190‑20 of the Minerals Resource Rent Tax Act 2012 (to the extent that it continues to apply because of this item) will adjust threshold amounts under that Act in relation to the final MRRT year.\n\nNote 2: Subsection 115‑110(2) in Schedule 1 to the Taxation Administration Act 1953 (to the extent that it continues to apply because of this item) will adjust instalment quarters under that Act in relation to the final MRRT year.\n\n124 Continuation of Commissioner’s power to make certain legislative instruments\n\n(1) Despite the repeal by this Act of section 117‑5 in Schedule 1 to the Taxation Administration Act 1953, the Commissioner’s power under subsection 117‑5(5) in that Schedule to make legislative instruments continues after that repeal.\n\n(2) This item does not affect any other powers of the Commissioner under Schedule 1 to the Taxation Administration Act 1953, as it continues to apply because of item 123 of this Schedule.\n\nSchedule 2—Loss carry back\n\nPart 1—Repeals\n\nIncome Tax Assessment Act 1997\n\n1 Division 160\n\nRepeal the Division.\n\nIncome Tax (Transitional Provisions) Act 1997\n\n2 Division 160\n\nRepeal the Division.\n\nPart 2—Consequential amendments\n\nIncome Tax Assessment Act 1936\n\n3 Subsection 6(1) (definition of loss carry back tax offset)\n\nRepeal the definition.\n\n4 Subsection 92A(3)\n\nOmit “or 160”.\n\n5 Paragraph 177C(1)(baa)\n\nRepeal the paragraph.\n\n6 Paragraph 177C(1)(ea)\n\nRepeal the paragraph.\n\n7 Paragraph 177C(2)(ca)\n\nRepeal the paragraph.\n\n8 Subsection 177C(3)\n\nOmit “, (ca)(i)”.\n\n9 Paragraph 177C(3)(caa)\n\nRepeal the paragraph.\n\n10 Paragraph 177C(3)(fa)\n\nRepeal the paragraph.\n\n11 Paragraph 177CB(1)(ca)\n\nRepeal the paragraph.\n\n12 Paragraph 177F(1)(ca)\n\nRepeal the paragraph.\n\n13 Paragraph 177F(3)(ca)\n\nRepeal the paragraph.\n\nIncome Tax Assessment Act 1997\n\n14 Section 13‑1 (table item headed “losses”)\n\nRepeal the item.\n\n15 Subsection 36‑17(1) (note 1)\n\nOmit “1”.\n\n16 Subsection 36‑17(1) (note 2)\n\nRepeal the note.\n\n17 Section 36‑25 (table dealing with tax losses of corporate tax entities)\n\nOmit:\n\n| | See also Division 160 (loss carry back tax offset) | |\n| --- | -------------------------------------------------- | --- |\n\n18 Section 36‑25 (table dealing with tax losses of pooled development funds (PDFs), item 1)\n\nRepeal the item, substitute:\n\n| 1. | A company is a pooled development fund (PDF) at the end of an income year for which it has a tax loss: it can only deduct the loss while it is a PDF. | Section 195‑5 |\n| --- | ----------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- |\n\n19 Section 36‑25 (table dealing with tax losses of VCLPs, ESVCLPs, AFOFs and VCMPs, item 1)\n\nRepeal the item, substitute:\n\n| 1. | A limited partnership that has a tax loss becomes a VCLP, an ESVCLP, an AFOF or a VCMP: it cannot deduct the loss while it is a VCLP, an ESVCLP, an AFOF or a VCMP. | Subdivision 195‑B |\n| --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- |\n\n20 Section 67‑23 (table item 13A)\n\nRepeal the item.\n\n21 Paragraph 195‑15(5)(b)\n\nOmit “and”.\n\n22 Paragraph 195‑15(5)(c)\n\nRepeal the paragraph.\n\n23 Group heading before section 195‑37\n\nRepeal the heading.\n\n24 Section 195‑37\n\nRepeal the section.\n\n25 Section 195‑72\n\nRepeal the section.\n\n26 Subparagraph 205‑35(1)(b)(ii)\n\nOmit “a \\*loss carry back tax offset, or”.\n\n27 Subparagraph 205‑35(1)(b)(ii)\n\nOmit “(about R&D),”, substitute “(about R&D)”.\n\n28 Paragraph 320‑149(2)(aa)\n\nRepeal the paragraph.\n\n29 Subsection 830‑65(3)\n\nOmit “or 160”.\n\n30 Paragraph 960‑20(2)(b)\n\nOmit “amount; or”, substitute “amount.”.\n\n31 Paragraph 960‑20(2)(c)\n\nRepeal the paragraph.\n\n32 Paragraph 960‑20(4)(e)\n\nOmit “forward; or”, substitute “forward.”.\n\n33 Paragraph 960‑20(4)(f)\n\nRepeal the paragraph.\n\n34 Subsection 995‑1(1) (definition of carry back)\n\nRepeal the definition.\n\n35 Subsection 995‑1(1) (definition of income tax liability)\n\nRepeal the definition.\n\n36 Subsection 995‑1(1) (definition of interest in membership interests)\n\nRepeal the definition.\n\n37 Subsection 995‑1(1) (definition of loss carry back choice)\n\nRepeal the definition.\n\n38 Subsection 995‑1(1) (definition of loss carry back tax offset)\n\nRepeal the definition.\n\n39 Subsection 995‑1(1) (definition of loss carry back tax offset component)\n\nRepeal the definition.\n\n40 Subsection 995‑1(1) (definition of scheme for a disposition)\n\nRepeal the definition.\n\nTaxation Administration Act 1953\n\n41 Section 45‑340 in Schedule 1 (method statement, step 1, paragraph (dc))\n\nRepeal the paragraph.\n\nPart 3—Application, transitional and saving provisions\n\n42 Application\n\nThe amendments made by this Schedule apply to assessments for the income year before the income year in which this Schedule commences, for the income year in which this Schedule commences and for later income years.\n\n43 Making and amending assessments, and doing other things, in relation to past matters\n\n(1) Even though a part of an Act is repealed or amended by this Schedule, the repeal or amendment is disregarded for the purpose of doing any of the following under any Act or legislative instrument (within the meaning of the Legislative Instruments Act 2003):\n\n (a) making or amending an assessment (including under a provision that is itself repealed or amended);\n (b) exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);\n\nin relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.\n\n(2) This item does not limit the operation of the Acts Interpretation Act 1901.\n\nIncome Tax (Transitional Provisions) Act 1997\n\n44 Before Subdivision 960‑E\n\nInsert:","sortOrder":6},{"sectionNumber":"Subdivision 960","sectionType":"subdivision","heading":"‑B—Utilisation of tax attributes","content":"#### Subdivision 960‑B—Utilisation of tax attributes\n\nTable of sections\n\n960‑20 Utilisation—corporate loss carry back","sortOrder":7},{"sectionNumber":"960‑20 Utilisation—corporate loss carry ","sectionType":"section","heading":"960‑20 Utilisation—corporate loss carry back","content":"#### 960‑20 Utilisation—corporate loss carry back\n\n (1) For the purposes of subsection 960‑20(2) of the Income Tax Assessment Act 1997, a tax loss is utilised to the extent that it is carried back under former Division 160 of that Act (which provided for a corporate loss carry back tax offset).\n (2) For the purposes of subsection 960‑20(4) of that Act, net exempt income for an income year is utilised to the extent that, because of it, an amount was reduced under step 2 of the method statement in former subsection 160‑15(2) of that Act (which was about calculating a loss carry back tax offset component).\n\nSchedule 3—Small business instant asset write‑off threshold\n\nIncome Tax Assessment Act 1997\n\n1 Section 328‑170 (fourth paragraph)\n\nOmit “$6,500”, substitute “$1,000”.\n\n2 Section 328‑180 (heading)\n\nRepeal the heading, substitute:","sortOrder":8},{"sectionNumber":"328‑180 Assets costing less than $1,000","sectionType":"section","heading":"328‑180 Assets costing less than $1,000","content":"#### 328‑180 Assets costing less than $1,000\n\n3 Paragraph 328‑180(1)(b)\n\nOmit “$6,500”, substitute “$1,000”.\n\n4 Paragraphs 328‑180(2)(a) and (3)(a)\n\nOmit “$6,500”, substitute “$1,000”.\n\n5 Subsection 328‑210(1)\n\nOmit “$6,500”, substitute “$1,000”.\n\n6 Subsection 328‑210(3) (example)\n\nRepeal the example, substitute:\n\n> Note: Example: Amanda’s Graphics is a small business entity for the 2014‑15 income year and chooses to use this Subdivision for that year. The business has an opening pool balance of $8,500 for its general small business pool for that year.\n\n> Note: During that year, Amanda acquired a new computer for $2,000. The taxable purpose proportion of its adjustable value is:\n\n> Note: $2,000 x 80% business use estimate = $1,600\n\n> Note: Amanda also sold her business car for $9,600 during that year. The car was used 100% in the business.\n\n> Note: To work out whether she can deduct an amount under this section, Amanda uses this calculation:\n\n> Note: $8,500 + $1,600 ‑ $9,600 = $500\n\n> Note: Because the result is less than $1,000, Amanda can deduct the $500 for the income year. The pool’s closing balance for the year is zero.\n\n7 Subsection 328‑215(4)\n\nOmit “$6,500”, substitute “$1,000”.\n\n8 Subsection 328‑250(1)\n\nOmit “$6,500”, substitute “$1,000”.\n\n9 Subsection 328‑250(4) (heading)\n\nRepeal the heading, substitute:\n\n Special rule for assets costing less than $1,000\n\n10 Subsection 328‑253(4) (heading)\n\nRepeal the heading, substitute:\n\n Special rule for expenditure on assets costing less than $1,000\n\n11 Application of amendments\n\n(1) Subject to subitems (2) and (3), the amendments made by this Schedule apply to a depreciating asset if:\n\n (a) the asset was first installed ready for use, for a taxable purpose, on or after the application day; or\n (b) the asset was first used, for a taxable purpose, on or after the application day, but was not installed ready for use prior to the application day.\n\n(2) The amendments made by item 4 of this Schedule apply to an amount if the amount is included in the second element of the cost of a depreciating asset at any time on or after the application day.\n\n(3) The amendments made by items 5 and 6 of this Schedule apply to assessments for the income year before the income year in which this Schedule commences, for the income year in which this Schedule commences or for a later income year.\n\n(4) In this item:\n\napplication day means 1 January in the income year before the income year in which this Schedule commences.\n\nSchedule 4—Deductions for motor vehicles\n\nIncome Tax Assessment Act 1997\n\n1 Subsection 328‑190(2A)\n\nRepeal the subsection.\n\n2 Section 328‑200 (method statement, step 2, paragraph (c))\n\nOmit “, and subsection 328‑237(2) (if relevant),”.\n\n3 Group heading before section 328‑237\n\nRepeal the heading.\n\n4 Section 328‑237\n\nRepeal the section.\n\n5 Subsection 328‑250(1)\n\nOmit “, subsection 328‑190(2) (assets that will be pooled) or subsection 328‑237(2) (certain motor vehicles)”, substitute “or subsection 328‑190(2) (assets that will be pooled)”.\n\n6 Subsection 328‑250(2)\n\nOmit “, 328‑190(2) or 328‑237(2)”, substitute “or 328‑190(2)”.\n\n7 Paragraph 328‑250(3)(b)\n\nOmit “, 328‑190(2) or 328‑237(2)”, substitute “or 328‑190(2)”.\n\n8 Application of amendments\n\n(1) The amendments made by this Schedule apply to a depreciating asset that is a motor vehicle if:\n\n (a) the asset was first installed ready for use, for a taxable purpose, on or after the application day; or\n (b) the asset was first used, for a taxable purpose, on or after the application day, but was not installed ready for use prior to the application day.\n\n(2) In this item:\n\napplication day means 1 January in the income year before the income year in which this Schedule commences.\n\nSchedule 5—Geothermal energy\n\nIncome Tax Assessment Act 1997\n\n1 Section 12‑5 (table item headed “capital allowances”)\n\nOmit:\n\n| exploration or prospecting .................... | 40‑80(1) and (1A), 40‑730 |\n| ------------------------------------------------- | ------------------------- |\n| geothermal exploration information .............. | Subdivision 40‑B |\n| geothermal exploration rights .................. | Subdivision 40‑B |\n\nsubstitute:\n\n| exploration or prospecting .................... | 40‑80(1), 40‑730 |\n| ----------------------------------------------- | ---------------- |\n\n2 Section 15‑40\n\nBefore “Your”, insert “(1)”.\n\n3 Section 15‑40\n\nOmit “or \\*geothermal exploration information”.\n\n4 At the end of section 15‑40\n\nAdd:\n\n (2) Your assessable income includes an amount you receive for providing \\*geothermal exploration information you have to another entity if:\n (a) you continue to have the information; and\n (b) the information is, and continues to be, relevant to:\n (i) \\*geothermal energy extraction that you carry on or propose to carry on; or\n (ii) a \\*business that you carry on that includes \\*exploration or prospecting for \\*geothermal energy resources from which energy can be extracted by geothermal energy extraction; and\n (c) the amount you receive is not assessable as \\*ordinary income under section 6‑5.\n It does not matter whether the information is generally available or not.\n (3) Geothermal exploration information is geological, geophysical or technical information that:\n (a) relates to the presence, absence or extent of \\*geothermal energy resources in an area; or\n (b) is likely to help in determining the presence, absence or extent of such resources in an area.\n (4) Geothermal energy extraction means operations that are for:\n (a) the extraction of energy from \\*geothermal energy resources; and\n (b) the \\*purpose of producing assessable income.\n\n5 Paragraphs 40‑30(2)(ba) and (bb)\n\nRepeal the paragraphs.\n\n6 Section 40‑40 (table item 9A)\n\nRepeal the item.\n\n7 Subsection 40‑80(1A)\n\nRepeal the subsection.\n\n8 Subsection 40‑290(5)\n\nRepeal the subsection, substitute:\n\n Exception: mining, quarrying or prospecting information\n (5) This section does not apply to \\*mining, quarrying or prospecting information.\n\n9 Subsection 40‑300(2) (table item 12)\n\nRepeal the item.\n\n10 Paragraph 40‑630(1)(b)\n\nOmit “or \\*geothermal energy extraction”.\n\n11 Subsection 40‑630(1) (note)\n\nOmit “or geothermal energy extraction”.\n\n12 Paragraphs 40‑630(1A)(b), (1B)(b) and (3)(b)\n\nOmit “or \\*geothermal energy extraction”.\n\n13 Paragraph 40‑650(3)(a)\n\nOmit “or \\*geothermal energy extraction”.\n\n14 Paragraph 40‑650(3)(b)\n\nOmit “or that extraction”.\n\n15 Subsection 40‑730(1) (heading)\n\nRepeal the heading.\n\n16 Subsections 40‑730(2A) and (2B)\n\nRepeal the subsections.\n\n17 Subsection 40‑730(3)\n\nRepeal the subsection, substitute:\n\n (3) Also, you cannot deduct expenditure under subsection (1) to the extent that it forms part of the \\*cost of a \\*depreciating asset.\n\n18 Paragraph 40‑730(4)(b)\n\nOmit “and for \\*geothermal energy resources”.\n\n19 Paragraph 40‑730(4)(c)\n\nOmit “, or of extracting energy from geothermal energy resources,”.\n\n20 Paragraph 40‑730(4)(d)\n\nOmit “materials; and”, substitute “materials.”.\n\n21 Paragraph 40‑730(4)(e)\n\nRepeal the paragraph.\n\n22 Subsections 40‑730(7A), (7B) and (9)\n\nRepeal the subsections.\n\n23 Subparagraph 43‑70(2)(fa)(iv)\n\nOmit “or (1A)”.\n\n24 Section 112‑38\n\nRepeal the section.\n\n25 After paragraph 124‑710(1)(a)\n\nInsert:\n\n (aa) an authority, licence, permit or entitlement under an Australian law to prospect or explore for \\*geothermal energy resources in an area; or\n\n26 Paragraph 124‑710(1)(b)\n\nAfter “minerals”, insert “or geothermal energy resources”.\n\n27 Paragraph 124‑710(1)(c)\n\nAfter “(a)”, insert “, (aa)”.\n\n28 After paragraph 124‑710(2)(a)\n\nInsert:\n\n (aa) an authority, licence, permit or entitlement under an Australian law to extract energy from \\*geothermal energy resources in an area; or\n\n29 Paragraph 124‑710(2)(b)\n\nAfter “minerals”, insert “, or extract energy from geothermal energy resources,”.\n\n30 Paragraph 124‑710(2)(c)\n\nAfter “(a)”, insert “, (aa)”.\n\n31 Paragraph 165‑55(2)(ba)\n\nRepeal the paragraph.\n\n32 Paragraphs 716‑300(1)(b) and (c)\n\nOmit “or (1A)”.\n\n33 Subsection 716‑300(1) (note)\n\nOmit “Subsections 40‑80(1) and (1A), which are in that Subdivision, provide”, substitute “Subsection 40‑80(1), which is in that Subdivision, provides”.\n\n34 Subsection 995‑1(1) (definition of geothermal energy extraction)\n\nOmit “40‑730(7B)”, substitute “15‑40(4)”.\n\n35 Subsection 995‑1(1) (definition of geothermal energy extraction right)\n\nRepeal the definition.\n\n36 Subsection 995‑1(1) (definition of geothermal energy resources)\n\nRepeal the definition, substitute:\n\n> geothermal energy resources means matter occurring naturally within the Earth and containing energy as heat.\n\n37 Subsection 995‑1(1) (definition of geothermal exploration information)\n\nOmit “40‑730(9)”, substitute “15‑40(3)”.\n\n38 Subsection 995‑1(1) (definition of geothermal exploration right)\n\nRepeal the definition.\n\n39 Application and saving provisions\n\n(1) The amendments of sections 40‑30, 40‑80 and 40‑290 of the Income Tax Assessment Act 1997 by this Schedule do not affect deductions or balancing adjustments for geothermal exploration rights or geothermal exploration information that started to be held before the income year in which this Schedule commences.\n\n(2) The amendments of sections 40‑630 and 40‑650 of the Income Tax Assessment Act 1997, and the repeal of subsection 40‑730(2A) of that Act, by this Schedule apply to expenditure incurred during the income year in which this Schedule commences or a later income year.\n\n(3) The amendments by this Schedule affecting sections 112‑38 and 124‑710 of the Income Tax Assessment Act 1997 apply in relation to authorities, licences, permits and entitlements held during the income year in which this Schedule commences or a later income year.\n\nSchedule 6—Superannuation Guarantee Charge percentage\n\nSuperannuation Guarantee (Administration) Act 1992\n\n1 Subsection 19(2)\n\nRepeal the subsection, substitute:\n\n (2) The charge percentage for a quarter in a year described in an item of the table is the number specified in column 2 of the item.\n\n```html\n

Charge percentage (unless reduced under section 22 or 23)

Item

Column 1
Year

Column 2
Charge percentage

1

Year starting on 1 July 2013

9.25

2

Year starting on 1 July 2014

9.5

3

Year starting on 1 July 2015

9.5

4

Year starting on 1 July 2016

9.5

5

Year starting on 1 July 2017

9.5

6

Year starting on 1 July 2018

9.5

7

Year starting on 1 July 2019

9.5

8

Year starting on 1 July 2020

9.5

9

Year starting on 1 July 2021

10

10

Year starting on 1 July 2022

10.5

11

Year starting on 1 July 2023

11

12

Year starting on 1 July 2024

11.5

13

Year starting on or after 1 July 2025

12

\n```\n\n2 Application of amendment\n\nThe amendment made by this Schedule applies for the purpose of calculations under section 19 of the Superannuation Guarantee (Administration) Act 1992 for quarters starting on or after 1 July 2015.\n\nSchedule 7—Low income superannuation contribution\n\nSuperannuation (Government Co‑contribution for Low Income Earners) Act 2003\n\n1 Subsection 5(2)\n\nOmit:\n\n• Part 2A (sections 12B to 12G) tells you who are the people entitled to a low income superannuation contribution. It also tells you how much the low income superannuation contribution is.\n\n2 Part 2A\n\nRepeal the Part.\n\n3 Subsection 49(1)\n\nOmit “Part 2A,”.\n\n4 Section 55 (note)\n\nRepeal the note.\n\n5 Section 56 (definition of concessional contributions)\n\nRepeal the definition.\n\n6 Section 56 (definition of low income superannuation contribution)\n\nRepeal the definition.\n\n7 Application of amendments\n\n(1) The amendments made by this Schedule apply in relation to concessional contributions for financial years starting on or after 1 July 2017.\n\n(2) However, section 12G of the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 ceases to apply, in relation to low income superannuation contributions for any quarter or financial year, at the commencement of this Schedule.\n\nNote: Section 12G requires the Commissioner to give reports to the Minister for presenting to the Parliament. This subitem ensures that reporting under that section is required up to, but not after, the commencement of this Schedule.\n\n(3) For the purposes of this item, concessional contributions has the same meaning as in the Income Tax Assessment Act 1997.\n\n9 Transitional—Deadlines for the final financial year for a LISC\n\nDetermining that a LISC is payable\n\n(1) The Commissioner must not determine under section 13 of the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 that a low income superannuation contribution is payable unless the Commissioner becomes satisfied, before 1 July 2019, that the contribution is payable.\n\nDetermining that an underpaid amount of LISC is payable\n\n(2) The Commissioner must not determine under section 19 of the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003 that an underpaid amount is to be paid unless the Commissioner becomes satisfied, before 1 July 2019, that the amount paid is less than the correct amount of low income superannuation contribution.\n\nSchedule 8—Repeal of income support bonus\n\nPart 1—Main amendments\n\nSocial Security Act 1991\n\n1 Subsection 23(1) (definition of income support bonus)\n\nRepeal the definition.\n\n2 Subsection 23(1) (definition of income support bonus test day)\n\nRepeal the definition.\n\n3 Paragraph 23(4AA)(ac)\n\nRepeal the paragraph.\n\n4 Part 2.18B\n\nRepeal the Part.\n\n5 Section 1190 (table item 71)\n\nRepeal the item.\n\n6 Subsection 1191(1) (table item 43)\n\nRepeal the item.\n\n7 Subsection 1192(10)\n\nRepeal the subsection.\n\nSocial Security (Administration) Act 1999\n\n8 Section 12L\n\nRepeal the section.\n\n9 Subsection 47(1) (paragraph (l) of the definition of lump sum benefit)\n\nOmit “payment; or”, substitute “payment.”.\n\n10 Subsection 47(1) (paragraph (m) of the definition of lump sum benefit)\n\nRepeal the paragraph.\n\n11 Section 47DAB\n\nRepeal the section.\n\nPart 2—Consequential amendments\n\nFarm Household Support (Consequential and Transitional Provisions) Act 2014\n\n12 Subsection 2(1) (table item 4)\n\nRepeal the item.\n\n13 Item 139 of Schedule 2\n\nRepeal the item.\n\nIncome Tax Assessment Act 1997\n\n15 Section 11‑15 (table item headed “social security or like payments”)\n\nOmit:\n\n| income support bonus under the Social Security Act 1991 | 52‑10 |\n| --------------------------------------------------------------------------------------------------------------------------- | ------ |\n| income support bonus under the scheme prepared under Part VII of the Veterans’ Entitlements Act 1986 | 52‑65 |\n| income support bonus under the scheme determined under section 258 of the Military Rehabilitation and Compensation Act 2004 | 52‑114 |\n\n16 Paragraph 52‑10(1)(zb)\n\nOmit “1991; or”, substitute “1991.”.\n\n17 Paragraph 52‑10(1)(zc)\n\nRepeal the paragraph.\n\n18 Subsection 52‑10(1M)\n\nRepeal the subsection.\n\n19 Paragraph 52‑65(1)(c)\n\nRepeal the paragraph.\n\n20 Subsection 52‑65(1K)\n\nRepeal the subsection.\n\n21 Section 52‑75 (table item 5D)\n\nRepeal the item.\n\n22 Section 52‑114 (table item 16A)\n\nRepeal the item.\n\nSocial Security Act 1991\n\n23 Paragraph 1231(1AA)(b)\n\nOmit “, training and learning bonus or income support bonus”, substitute “or training and learning bonus”.\n\nSocial Security (Administration) Act 1999\n\n24 Section 123TC (paragraph (f) of the definition of category I welfare payment)\n\nRepeal the paragraph.\n\n25 Section 123TC (paragraph (aa) of the definition of category Q welfare payment)\n\nRepeal the paragraph.\n\nPart 3—Saving provisions\n\n26 Saving provisions\n\n(1) If, before the commencement of this item, a person was, under Part 2.18B of the Social Security Act 1991, qualified for an income support bonus on an income support bonus test day occurring before that commencement, then, despite the amendments made by Parts 1 and 2 of this Schedule, that Act and the Social Security (Administration) Act 1999, as in force immediately before that commencement, continue to apply on and after that commencement in relation to that qualification.\n\n(3) Despite the amendment made by item 18, subsection 52‑10(1M) of the Income Tax Assessment Act 1997, as in force immediately before the commencement of this item, continues to apply on and after that commencement in relation to payments of income support bonus made before, on or after that commencement under the Social Security Act 1991.\n\n(4) Despite the amendment made by item 20, subsection 52‑65(1K) of the Income Tax Assessment Act 1997, as in force immediately before the commencement of this item, continues to apply on and after that commencement in relation to payments of income support bonus made before, on or after that commencement under the scheme prepared under Part VII of the Veterans’ Entitlements Act 1986.\n\n(5) Despite the amendment made by item 22, item 16A of the table in section 52‑114 of the Income Tax Assessment Act 1997, as in force immediately before the commencement of this item, continues to apply on and after that commencement in relation to payments of income support bonus made before, on or after that commencement under the scheme determined under section 258 of the Military Rehabilitation and Compensation Act 2004.\n\n(6) Despite the amendments made by items 24 and 25:\n\n (a) paragraph (f) of the definition of category I welfare payment in section 123TC of the Social Security (Administration) Act 1999, as in force immediately before the commencement of this item; and\n (b) paragraph (aa) of the definition of category Q welfare payment in that section as so in force;\n\ncontinue to apply on and after that commencement in relation to payments of income support bonus made before, on or after that commencement.\n\nSchedule 9—Schoolkids bonus\n\nPart 1A—Amendments\n\nA New Tax System (Family Assistance) Act 1999\n\n1A At the end of subsection 35UA(1) (before the note)\n\nAdd:\n\n ; and (d) the individual’s adjusted taxable income for the income year in which the bonus test day occurs is $100,000 or less.\n\n1B At the end of subsection 35UA(2)\n\nAdd:\n\n ; and (g) the affected parent’s adjusted taxable income for the income year in which the bonus test day occurs is $100,000 or less.\n\n1C After subsection 35UA(2)\n\nInsert:\n\n (2A) For the purposes of paragraph (2)(g), the affected parent is the person:\n (a) who is a parent of the other individual, being a parent within the meaning of paragraph (b) of the definition of parent in subsection 5(1) of the Social Security Act 1991; and\n (b) who is nominated in writing by the Secretary.\n\n1D At the end of subsection 35UA(3)\n\nAdd:\n\n ; and (h) the individual’s adjusted taxable income for the income year in which the bonus test day occurs is $100,000 or less.\n\n1E At the end of subsection 35UA(4)\n\nAdd:\n\n ; and (h) the other individual’s adjusted taxable income for the income year in which the bonus test day occurs is $100,000 or less.\n\n1F After subsection 35UA(4)\n\nInsert:\n\n (4AA) Paragraph (4)(h) does not apply if the instalment referred to in paragraph (4)(a) is an instalment of disability support pension and the other individual is permanently blind.\n\n1G At the end of subsection 35UE(1)\n\nAdd:\n\n ; and (h) the individual’s adjusted taxable income for the income year in which the bonus test day occurs is $100,000 or less.\n\n1H At the end of subsection 35UE(2)\n\nAdd:\n\n ; and (g) the individual’s adjusted taxable income for the income year in which the bonus test day occurs is $100,000 or less.\n\n1J At the end of subsection 35UE(3)\n\nAdd:\n\n ; and (i) the individual’s adjusted taxable income for the income year in which the bonus test day occurs is $100,000 or less.\n\n1K After subsection 35UE(3)\n\nInsert:\n\n (3A) Paragraph (3)(i) does not apply if the instalment referred to in paragraph (3)(a) is an instalment of disability support pension and the individual is permanently blind.\n\n1L Clause 1 of Schedule 3 (heading)\n\nRepeal the heading, substitute:","sortOrder":9},{"sectionNumber":"35J","sectionType":"section","heading":"Determination of eligibility may be based on estimate","content":"#### 35J Determination of eligibility may be based on estimate\n\n If:\n (a) an individual’s eligibility under Division 1A of Part 3 of the Family Assistance Act for schoolkids bonus on a bonus test day is required to be determined; and\n (b) information about the amount of adjusted taxable income needed for the determination of the eligibility is not available (for example, because the taxable income of the individual or another individual cannot be known until after the end of the relevant income year); and\n (c) the individual gives the Secretary an estimate of the amount needed; and\n (d) the Secretary considers the estimate to be reasonable;\n the Secretary may determine the individual’s eligibility on the basis of the estimate.\n\nPart 1—Repeals\n\nA New Tax System (Family Assistance) Act 1999\n\n1 Subsection 3(1) (definition of bonus test day)\n\nRepeal the definition.\n\n2 Subsection 3(1) (definition of current education period)\n\nRepeal the definition.\n\n3 Subsection 3(1) (paragraph (f) of the definition of family assistance)\n\nOmit “supplement; or”, substitute “supplement.”.\n\n4 Subsection 3(1) (paragraph (g) of the definition of family assistance)\n\nRepeal the paragraph.\n\n5 Subsection 3(1) (paragraph (ba) of the definition of FTB child)\n\nRepeal the paragraph.\n\n6 Subsection 3(1) (definition of previous education period)\n\nRepeal the definition.\n\n7 Subsection 3(1) (definition of primary school amount)\n\nRepeal the definition.\n\n8 Subsection 3(1) (definition of relevant schoolkids bonus child)\n\nRepeal the definition.\n\n9 Subsection 3(1) (definition of schoolkids bonus)\n\nRepeal the definition.\n\n10 Subsection 3(1) (definition of secondary school amount)\n\nRepeal the definition.\n\n11 Division 1A of Part 3\n\nRepeal the Division.\n\n12 Division 1A of Part 4\n\nRepeal the Division.\n\n12A Clause 1 of Schedule 3 (heading)\n\nRepeal the heading, substitute:","sortOrder":11}],"analysis":{"summary":{"complexity_score":9,"scope_assessment":{"changed":true,"description":"The Act's name — 'Minerals Resource Rent Tax Repeal and Other Measures Act' — signals the MRRT repeal as the primary purpose, but 'Other Measures' significantly understates the scope. The Act also abolishes the loss carry-back tax offset for companies, reduces small business instant asset write-off thresholds, removes special motor vehicle deductions, removes geothermal energy tax concessions, freezes the superannuation guarantee rate, abolishes the Low Income Superannuation Contribution, abolishes the Income Support Bonus, and substantially modifies then abolishes the Schoolkids Bonus. Many of these measures are substantial standalone policy changes unrelated to mining tax — particularly the super rate freeze and welfare payment abolitions — indicating the Act was significantly expanded beyond its stated primary purpose."},"complexity_factors":["Omnibus structure: covers 6+ completely unrelated policy areas in one Act","Amends over 15 different Acts simultaneously across taxation, social security, superannuation and family assistance law","Multiple commencement dates (at least 9 different start dates for different provisions) spread from September 2014 to July 2017","Extensive transitional and saving provisions required to wind down abolished schemes while protecting pre-existing entitlements","Cross-referencing between Acts is dense — e.g., MRRT repeal requires surgical removal of references from Income Tax Assessment Act 1997, Taxation Administration Act 1953, Crimes (Taxation Offences) Act 1980, GST Act and others","Petroleum Resource Rent Tax boundary adjustments (coal seam gas, incidental exploration exclusions) require interpreting overlapping resource tenure regimes","Superannuation guarantee rate freeze interacts with existing legislative schedule requiring care about which rate applies in which year","Large number of definitional amendments requiring careful sequencing (e.g., removing MRRT-specific definitions while preserving analogous petroleum resource rent tax definitions)","Application provisions vary by Schedule — some apply prospectively, some retrospectively, some from different trigger dates","Volume: hundreds of individual amendment items across 9 Schedules"],"plain_english_summary":"This 2014 omnibus Act repeals the Minerals Resource Rent Tax and removes several tax concessions and benefits across sectors. It cuts back small‑business write‑offs and vehicle deductions, ends loss‑carry‑back refunds, strips geothermal exploration concessions, and narrows then abolishes the Schoolkids Bonus.\n\nIt also freezes scheduled superannuation guarantee increases and abolishes the Low Income Super Contribution and an income‑support bonus — affecting miners, small businesses, loss‑making firms, low‑income earners and welfare recipients."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":true,"description":"While the title suggests this is primarily about repealing the Minerals Resource Rent Tax, the legislation has grown significantly beyond this original purpose. It bundles together MRRT repeal with the abolition of the Loss Carry Back scheme, cuts to small business instant asset write-offs, removal of motor vehicle deductions, a 7-year freeze on superannuation guarantee increases, abolition of the Low Income Super Contribution, and abolition of two welfare bonuses (Income Support Bonus and Schoolkids Bonus). This reflects a 'omnibus' approach to budget repair, using the MRRT repeal as the legislative vehicle to unwind multiple spending programs that were originally funded by or linked to the mining tax revenue."},"complexity_factors":["Nine separate schedules covering distinct policy areas (mining tax, company losses, small business, superannuation, welfare)","Extensive cross-referencing — amends over 15 different Acts including Income Tax Assessment Acts, Superannuation laws, Social Security Acts, and Petroleum Resource Rent Tax Act","Complex commencement table with 9 different commencement dates ranging from Royal Assent (5 Sept 2014) to 1 July 2017 and 31 December 2016","Numerous transitional and saving provisions ensuring continuity of rights/obligations for past tax years despite repeals","Nested conditional logic in eligibility tests (e.g., Schoolkids Bonus income test with exception for blind disability pensioners)","Heavy use of defined terms and signposting to other legislation (e.g., 'adjusted taxable income', 'concessional contributions')","Repeal of entire Parts and Divisions while preserving specific sections for transitional purposes"],"plain_english_summary":"This legislation, the **Minerals Resource Rent Tax Repeal and Other Measures Act 2014**, is a sweeping piece of budget repair and policy reversal legislation from the Abbott Government. It does four main things:\n\n**1. Abolishes the Mining Tax (MRRT)**\nThe Act completely repeals the Minerals Resource Rent Tax (MRRT) — a tax on profits from coal and iron ore mining that was introduced by the previous Labor government. It wipes out the four Acts that created the MRRT regime and removes hundreds of references to MRRT from other tax laws. Importantly, it includes **transitional rules** so that mining companies still have to pay tax for past years and the Tax Office can still chase unpaid bills.\n\n**2. Repeals the \"Loss Carry Back\" scheme for companies**\nThis removes a tax break that let companies \"carry back\" current losses to offset against past profits and get a refund. This was designed to help struggling businesses but is now abolished to save money.\n\n**3. Cuts Small Business Tax Concessions**\n- **Instant asset write-off**: Slashed from $6,500 back down to $1,000. This means small businesses can only immediately deduct assets costing under $1,000, not the higher amount.\n- **Motor vehicle deductions**: Removes special rules that let small businesses claim $5,000 upfront for motor vehicles.\n\n**4. Delays and Cuts Superannuation and Welfare Measures**\n- **Superannuation Guarantee**: Freezes the rate employers must pay into workers' super at 9.5% until 2021 (it was meant to rise gradually to 12%).\n- **Low Income Super Contribution**: Abolishes the government payment of up to $500 into super accounts for low-income earners (effective 2017).\n- **Income Support Bonus**: Abolishes this twice-yearly payment to welfare recipients.\n- **Schoolkids Bonus**: Abolishes this payment to families for school expenses, though with a brief income test added first for those already eligible.\n\n**5. Tidies up Geothermal Energy rules**\nRemoves special tax treatment for geothermal energy exploration, folding it into general mining exploration rules.\n\n**Who it affects:** Mining companies (no more MRRT), small businesses (less generous deductions), employees (slower super increases), low-income earners (less super support), and welfare recipients (loss of bonuses).\n\n**Why it matters:** This was a signature policy of the 2013 election — the Coalition promised to \"axe the tax.\" It also represents a significant tightening of the budget by unwinding what the government saw as unsustainable spending programs linked to the mining tax."},"flash_summary":{"complexity_score":8,"scope_assessment":{"changed":true,"description":"Yes. The Act removes the Minerals Resource Rent Tax from Australian statute (Schedule 1, Part 1) and narrows the active statutory tax regime by repealing MRRT provisions and excising MRRT references across tax, superannuation and social security laws. It simultaneously preserves administrative and recovery powers for MRRT years ending on or before commencement via transitional and saving provisions (Schedule 1, items 122–124 and related saving items), creating a legal boundary between past MRRT liabilities and future law."},"complexity_factors":["Extensive repeals and substitutions across multiple principal Acts (Schedules 1–9), including full repeal of the MRRT Acts (Schedule 1, Part 1).","Large number of consequential amendments to the Income Tax Assessment Act 1997, Taxation Administration Act 1953 and related laws that rework many cross-referenced definitions (see Schedule 1 items 14–45 and many items in Schedule 2 and 5).","Technical rewriting and removal of core tax definitions (e.g. numerous changes to subsection 995‑1(1) in Schedules 1 and 2), increasing interpretation complexity for practitioners.","Transitional and saving provisions preserving administration and liability for prior MRRT years while repealing the substantive law for future years (Schedule 1, items 122–124 and related saving items in Schedules 8 and 9).","Staged and varied commencements (section 2 table and multiple Schedule commencement provisions) including proclamation windows and default start-dates, creating timing complexity for compliance.","Amendments that reallocate or point to other specialist regimes (e.g. petroleum resource rent tax references inserted/retained), producing cross-system dependencies (Schedule 1 items 39–41, 58).","Multiple policy areas affected (tax, superannuation, social security, small business, geothermal, motor vehicle deductions) requiring coordination across agencies and administration systems (Schedules 3–7).","Numerous minor textual edits (notes, table items, headings) that nonetheless affect statutory interpretation and administrative processes (many items throughout Schedules)."],"plain_english_summary":"This Act abolishes the Minerals Resource Rent Tax by repealing the MRRT Acts and makes widespread consequential amendments across taxation, superannuation, petroleum and social security laws. It sets out transitional and saving provisions to wind up MRRT liabilities for prior years, adjusts superannuation charge percentages and various tax thresholds, and alters deductions and benefit rules. The main practical effects fall on mining and petroleum taxpayers, employers (superannuation calculations), small businesses, and recipients of certain social payments."}},"importantCases":[],"_links":{"self":"/api/acts/minerals-resource-rent-tax-repeal-and-other-measures-act-2014","history":"/api/acts/minerals-resource-rent-tax-repeal-and-other-measures-act-2014/history","analysis":"/api/acts/minerals-resource-rent-tax-repeal-and-other-measures-act-2014/analysis","conflicts":"/api/acts/minerals-resource-rent-tax-repeal-and-other-measures-act-2014/conflicts","importantCases":"/api/acts/minerals-resource-rent-tax-repeal-and-other-measures-act-2014/important-cases","documents":"/api/acts/minerals-resource-rent-tax-repeal-and-other-measures-act-2014/documents"}}