MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 3
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MRRT ALLOWANCES
PART 3-2
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TRANSFERRED ROYALTY ALLOWANCES
Division 65
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Transferred royalty allowances
Operative provisions
SECTION 65-10
65-10
WHEN A MINER HAS A TRANSFERRED ROYALTY ALLOWANCE
A miner has a transferred royalty allowance for a mining project interest for an * MRRT year if:
(a) there is an amount (a remaining profit ) by which the miner ' s * mining profit for the interest for the year exceeds the * royalty allowance (if any) that the miner has for the interest for the year; and
(b) there are one or more * royalty credits ( available royalty credits ) that, under section 65-20 , can be applied in working out the transferred royalty allowance for the interest for the year.
A miner has a transferred royalty allowance for a mining project interest for an * MRRT year if:
(a) there is an amount (a remaining profit ) by which the miner ' s * mining profit for the interest for the year exceeds the * royalty allowance (if any) that the miner has for the interest for the year; and
(b) there are one or more * royalty credits ( available royalty credits ) that, under section 65-20 , can be applied in working out the transferred royalty allowance for the interest for the year.
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