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Legal database

MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-4 - LOW PROFIT OFFSETS  

Division 45 - Low profit offsets  

Guide to Division 45  

SECTION 45-1   WHAT THIS DIVISION IS ABOUT  

A miner is entitled to an offset for an MRRT year if the miner ' s group mining profit for the year is less than $ 125 million.

If that profit is less than or equal to $ 75 million, an offset reduces the amount of MRRT the miner must pay for the year to nil.

An offset phases out between profits of $ 75 million and $ 125 million, so that the miner is not immediately subjected to a full MRRT liability when the miner ' s group profit exceeds $ 75 million.


TABLE OF SECTIONS
TABLE OF SECTIONS
Operative provisions
45-5 Low profit offset - profits not greater than $ 75 million
45-10 Low profit offset - profits greater than $ 75 million and less than $ 125 million


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