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Legal database

MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-5 - PAYMENT OF MRRT  

Division 50 - How to work out when to pay MRRT  

Operative provisions  

SECTION 50-10  

50-10   WHEN SHORTFALL INTEREST CHARGE IS PAYABLE  
An amount of * shortfall interest charge that a miner is liable to pay is due and payable 21 days after the day on which the Commissioner gives the miner notice of the charge.

Note 1:

Shortfall interest charge may be payable, on any amount of extra assessed MRRT payable as a result of an amended assessment, for each day in the period that:

  • (a) starts at the time assessed MRRT was due and payable on the miner ' s original assessment; and
  • (b) finishes on the day before the day on which the Commissioner gives the miner notice of the amended assessment.

    • Note 2:

    For provisions about liability for shortfall interest charge, see Division 280 in Schedule 1 to the Taxation Administration Act 1953 .

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