MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 4
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SPECIALIST LIABILITY RULES
PART 4-2
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PRE-MINING PROJECT INTERESTS
Division 150
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Splitting pre-mining project interests
Operative provisions
SECTION 150-25
150-25
EFFECT OF MRRT LIABILITY FROM EARLIER YEARS ON REHABILITATION TAX OFFSET AMOUNTS
For the purposes of section 225-20 , only a proportion, worked out on a reasonable basis, of an * MRRT liability , of the original explorer or any other * entity , for the * pre-mining project interest for an * MRRT year before the year in which a * pre-mining project split happens, is taken to have been paid in relation to a new interest.
For the purposes of section 225-20 , only a proportion, worked out on a reasonable basis, of an * MRRT liability , of the original explorer or any other * entity , for the * pre-mining project interest for an * MRRT year before the year in which a * pre-mining project split happens, is taken to have been paid in relation to a new interest.
Note:
The original explorer is required to give the new explorer the information it needs to work out the amount of a rehabilitation offset: see Division 121 in Schedule 1 to the Taxation Administration Act 1953 .
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