MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 4
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SPECIALIST LIABILITY RULES
PART 4-1
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MINING PROJECT INTERESTS
Division 115
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Combining mining project interests
Subdivision 115-C
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The effect of combining mining project interests
SECTION 115-40
115-40
THE EFFECT OF COMBINING MINING PROJECT INTERESTS
In the * MRRT year (the combining year ) in which the constituent interests are taken to be the combined interest, the miner is liable to pay any MRRT that is payable in relation to:
(a) the constituent interests; and
(b) the part of the year before the constituent interests become the combined interest;
In the * MRRT year (the combining year ) in which the constituent interests are taken to be the combined interest, the miner is liable to pay any MRRT that is payable in relation to:
(a) the constituent interests; and
(b) the part of the year before the constituent interests become the combined interest;
as if the constituent interests were taken to be the combined interest at the start of the year.
Note 1:
If the whole of the combined interest is transferred later in the same year to a new miner, the new miner ' s MRRT liability in relation to the year will include the liability under this section: see Division 120 .
Note 2:
If a part of the combined interest is transferred later in the same year to a new miner, the new miner ' s MRRT liability in relation to the year will include a part of the liability under this section: see Division 125 .
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