MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-1 - MINING PROJECT INTERESTS  

Division 130 - Winding down mining project interests  

Operative provisions  

SECTION 130-10   SUSPENSION DAYS FOR MINING PROJECT INTERESTS  

130-10(1)    
The suspension day for a mining project interest is the earliest of the following:

(a) the day, occurring after the day on which commercial production of * taxable resources from the * project area for the mining project interest ceased, chosen by the miner who has the mining project interest;

(b) the day occurring 10 years after the day on which commercial production of taxable resources from the project area for the mining project interest most recently took place;

(c) the * termination day for the mining project interest.

130-10(2)    
A miner may choose the * suspension day for a mining project interest that the miner has if commercial production of * taxable resources from the * project area for the mining project interest has ceased.

Note:

130-10(3)    
Without limiting the matters that may be taken into account in determining, for the purposes of this section, whether commercial production of * taxable resources from the * project area takes place, the following are to be taken into account:

(a) past and current production of taxable resources from the project area;

(b) past and current expenditure relating to the * upstream mining operations for the mining project interest;

(c) the extent to which mining equipment used in carrying on those upstream mining operations has been decommissioned.

130-10(4)    
The choice must be given to the Commissioner.