MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-6 - INTEGRITY MEASURES  

Division 205 - Anti-profit shifting  

Operative provisions  

SECTION 205-20   COMMISSIONER MAY COMPENSATE ENTITY OR ANOTHER ENTITY  

205-20(1)    
The Commissioner may make a determination under section 205-25 if:

(a) section 205-10 applies in relation to a mining project interest a miner has, or a * pre-mining project interest an * entity * holds , for an * MRRT year ; and

(b) the Commissioner considers that if the independent conditions mentioned in that section had instead operated, one or more of the following would, or could reasonably be expected to, apply:

(i) the * mining profit (if any) for the mining project interest or the * pre-mining profit (if any) for the pre-mining project interest for another MRRT year would be smaller, or could reasonably be expected to be smaller;

(ii) an * allowance component (if any) for the mining project interest or pre-mining project interest for another MRRT year would be larger, or could reasonably be expected to be larger;

(iii) an offset under Division 45 (low profit offsets) or Division 225 (rehabilitation tax offsets) the miner or entity has for another MRRT year would be larger, or could reasonably be expected to be larger; and

(c) the Commissioner considers that it is fair and reasonable that the amounts to which paragraph (b) applies be adjusted to be the amounts that would be, or could reasonably be expected to be, those amounts if the independent conditions had instead operated.

205-20(2)    
The Commissioner may also make a determination under section 205-25 if:

(a) section 205-10 applies in relation to a mining project interest a miner has, or a * pre-mining project interest an * entity * holds , for an * MRRT year ; and

(b) the Commissioner considers that if the independent conditions mentioned in that section had instead operated, one or more of the following would, or could reasonably be expected to, apply in relation to another entity mentioned in paragraph 205-10(1)(a) :

(i) the * mining profit (if any) for a mining project interest, or the * pre-mining profit (if any) for a pre-mining project interest, the other entity has or holds, for an MRRT year, would be smaller, or could reasonably be expected to be smaller;

(ii) an * allowance component (if any) for a mining project interest or pre-mining project interest the other entity has or holds for an MRRT year would be larger, or could reasonably be expected to be larger;

(iii) an offset under Division 45 (low profit offsets) or Division 225 (rehabilitation tax offsets) the other entity has for an MRRT year would be larger, or could reasonably be expected to be larger; and

(c) the Commissioner considers that it is fair and reasonable that the amounts to which paragraph (b) applies be adjusted to be the amounts that would be, or could reasonably be expected to be, those amounts if the independent conditions had instead operated.