October 24th, 2013

Repeal of the Minerals Resource Rent Tax

24 October 2013

Joint Media Statement

Treasurer / Minister for Finance / Minister for Industry

Repeal of the Minerals Resource Rent Tax

The Government is today releasing  draft legislation for the repeal of the Minerals Resource Rent Tax (MRRT).

Consistent with the Government’s  clear election mandate, the Minerals Resource Rent Tax Repeal and Other  Measures Bill 2013 will abolish the failed MRRT from 1 July 2014.

…..

In relation to the Petroleum  Resource Rent Tax, the Government is considering the issue of the onshore administration  of this tax, in the context of its deregulation agenda and the removal of red  tape.

Submissions on the draft  legislation and explanatory memorandum for the repeal are invited until 31  October 2013.

For more go to Australian Government The Treasury.

©  Commonwealth Parliament of Australia