MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 2
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GENERAL LIABILITY RULES
PART 2-3
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MINING PROFITS
Division 30
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Mining revenue
Subdivision 30-B
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Revenue from supply, export or use of taxable resources
SECTION 30-20
MEANING OF
INITIAL SUPPLY
30-20(1)
An initial supply of a * taxable resource , or something produced using a taxable resource, is the first * supply of the taxable resource or thing a miner makes, disregarding a supply covered by subsection (2) .
30-20(2)
However, a * supply of a * taxable resource , or something produced using such a taxable resource, is not an initial supply if:
(a) the supply is made between * entities in the course of a * mining venture in relation to which each of the entities has a mining project interest; or
(b) the supply does not result in a change in the ownership of the taxable resource or the thing produced using such a taxable resource.
An initial supply of a * taxable resource , or something produced using a taxable resource, is the first * supply of the taxable resource or thing a miner makes, disregarding a supply covered by subsection (2) .
30-20(2)
However, a * supply of a * taxable resource , or something produced using such a taxable resource, is not an initial supply if:
(a) the supply is made between * entities in the course of a * mining venture in relation to which each of the entities has a mining project interest; or
(b) the supply does not result in a change in the ownership of the taxable resource or the thing produced using such a taxable resource.
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