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MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-4 - VALUATION  

Division 175 - Alternative valuation method  

Subdivision 175-C - Amounts included in mining revenue under the alternative valuation method  

SECTION 175-25   HOW TO WORK OUT THE SINGLE AMOUNT  
Work out the single amount to be included under section 30-10 , in a miner ' s * mining revenue for a mining project interest for an * MRRT year , as follows: Method statement


Step 1.

For each of the * taxable resources covered by the alternative valuation method for the interest for the year, work out the unadjusted revenue amount under section 175-30 .


Step 2.

Add together all of the unadjusted revenue amounts for the * taxable resources covered by the alternative valuation method for the interest for the year.


Step 3.

Add together all of the following amounts:

  • (a) the miner ' s downstream operating costs, worked out under section 175-35 , for the interest for the year;
  • (b) the sum of the amounts, worked out under section 175-40 , by which the assets of the miner relating to the interest, to which that section applies, have depreciated in value during the year;
  • (c) a return on the miner ' s capital costs for the interest for the year, worked out under section 175-45 .


    • Step 4.

    Reduce the amount under step 2 by the amount under step 3. The result is the single amount to be included in the miner ' s * mining revenue for the mining project interest for the year.


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