MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-3 - MINING PROFITS  

Division 30 - Mining revenue  

Subdivision 30-B - Revenue from supply, export or use of taxable resources  

SECTION 30-15   MEANING OF MINING REVENUE EVENT  

30-15(1)    
A mining revenue event happens in relation to a * taxable resource extracted from the * project area for a mining project interest if the miner who has the interest:

(a) makes an * initial supply of the taxable resource, but not after its exportation from * Australia ; or

(b) exports the taxable resource from Australia, but not after paragraph (a) has applied to the taxable resource; or

(c) makes an initial supply of or uses, or exports from Australia, something produced using the taxable resource, but not after:

(i) paragraph (a) or (b) has already applied in relation to the taxable resource; or

(ii) this paragraph has already applied in relation to the thing produced using the taxable resource.

Note:

There is at least one mining revenue event in relation to each quantity of taxable resource. However, there could only be more than one mining revenue event in relation to a quantity of taxable resource if more than one thing is produced from it.

Example:

There are 2 mining revenue events in relation to a quantity of coal if it is extracted then consumed producing both electricity and fly-ash.

30-15(2)    
However, a mining revenue event does not happen for use of a thing produced using a * taxable resource , to the extent that:

(a) the use takes place in the course of operations or activities of a kind mentioned in paragraph 35-20(1)(a) for the mining project interest; and

(b) those operations or activities do not involve doing anything to, or with, other taxable resources extracted from the * project area for the interest after those other taxable resources reach the form and location they are in when a mining revenue event happens in relation to them; and

(c) the use does not give rise to:

(i) an amount of * mining expenditure for the miner; or

(ii) an amount that is taken into account for the miner under step 2 of the method statement in section 30-25 ; or

(iii) an amount that is taken into account for the miner under step 3 of the method statement in section 175-25 (alternative valuation method).