MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-3 - MINING PROFITS  

Division 35 - Mining expenditure  

Subdivision 35-B - Excluded expenditure  

SECTION 35-45   MEANINGS OF MINING ROYALTY AND PRIVATE MINING ROYALTY  

35-45(1)    
An amount of expenditure is a mining royalty to the extent the expenditure:

(a) is made in relation to a * taxable resource extracted under authority of a * production right ; and

(b) is made under a * Commonwealth law , a * State law or a * Territory law ; and

(c) either:

(i) is a * royalty ; or

(ii) would be a royalty, if the taxable resource were owned by the Commonwealth, State or Territory (as the case requires) just before the recovery of the resource.

Note:

Subparagraph (1)(c)(ii) covers a case where an amount is payable under an Australian law in relation to minerals owned by private landowners.

35-45(2)    
An amount of expenditure is a private mining royalty if:

(a) it is:

(i) a * taxable resource or a quantity of something produced using a taxable resource; or

(ii) calculated by reference to a taxable resource or a quantity of something produced using a taxable resource; or

(iii) calculated by reference to the gross or net value of a taxable resource or something produced using a taxable resource; or

(iv) calculated by reference to the revenue, expenditure or profits made or incurred by an * entity in relation to a taxable resource or a quantity of something produced using a taxable resource; and

(b) it is not a * mining royalty .