Petroleum Resource Rent Tax (Imposition—General) Bill 2011

Type: Government
Portfolio: Treasury
Originating house: House of Representatives
Status: Act
Parliament no: 43

Summary

Part of a package of 11 bills, the bill imposes petroleum resource rent tax at a rate of 40 per cent on the profits of certain petroleum projects, to the extent that it is neither a duty of customs nor a duty of excise.

Progress

House of Representatives
Introduced and read a first time	02 Nov 2011
Second reading moved	02 Nov 2011
Second reading debate	03 Nov 2011
Second reading debate	21 Nov 2011
Second reading debate	22 Nov 2011
Second reading agreed to	22 Nov 2011 (After Midnight)
Third reading agreed to	22 Nov 2011 (After Midnight)

Senate
Introduced and read a first time	07 Feb 2012
Second reading moved	07 Feb 2012
Second reading debate	15 Mar 2012
Second reading debate	16 Mar 2012
Second reading debate	19 Mar 2012
Second reading agreed to	19 Mar 2012
Third reading agreed to	19 Mar 2012


Text of bill as passed both Houses	19 Mar 2012
Assent Act no.: 21 Year: 2012	29 Mar 2012

Documents and transcripts

Text of bill

First reading

As passed by both Houses

Explanatory memoranda

Explanatory memorandum

Transcript of speeches

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

Bills Digest

Notes

Referred to Committee (02/11/2011): House Standing Committee on Economics; Committee report (21/11/2011)
Referred to Committee (10/11/2011): Senate Economics Legislation Committee; Committee report (14/03/2012)
An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)

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 changes to the bill. For details about the outcome of proposed amendments please refer to either the 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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House of Representatives

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