MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-4 - VALUATION  

Division 175 - Alternative valuation method  

Subdivision 175-B - Choosing to use the alternative valuation method  

SECTION 175-10   CHOOSING TO USE THE ALTERNATIVE VALUATION METHOD  

175-10(1)    
A miner may choose to use the alternative valuation method in relation to a mining project interest that the miner has, for an * MRRT year , if either or both of the following apply:

(a) group production of * taxable resources for the miner for that year under section 175-15 is less than 10 million tonnes;

(b) taxable resources extracted during the year from the * project area for the mining project interest are used as part of an operation that:

(i) is for * supplying things (other than taxable resources) produced using a taxable resource extracted under the authority of a * production right to which the project area relates; and

(ii) existed in * Australia just before 2 May 2010; and

(iii) the miner carries on (whether alone or jointly with other * entities ).

Note:

Division 119 in Schedule 1 to the Taxation Administration Act 1953 is about choices under the MRRT law.

175-10(2)    
Each choice that the miner makes must relate to:

(a) a single mining project interest that the miner has; and

(b) a single * MRRT year .