MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
The suspension day for a mining project interest is the earliest of the following:
(a) the day, occurring after the day on which commercial production of * taxable resources from the * project area for the mining project interest ceased, chosen by the miner who has the mining project interest;
(b) the day occurring 10 years after the day on which commercial production of taxable resources from the project area for the mining project interest most recently took place;
(c) the * termination day for the mining project interest.
130-10(2)
A miner may choose the * suspension day for a mining project interest that the miner has if commercial production of * taxable resources from the * project area for the mining project interest has ceased.
Note:
Division 119 in Schedule 1 to the Taxation Administration Act 1953 is about choices under the MRRT law.
130-10(3)
Without limiting the matters that may be taken into account in determining, for the purposes of this section, whether commercial production of * taxable resources from the * project area takes place, the following are to be taken into account:
(a) past and current production of taxable resources from the project area;
(b) past and current expenditure relating to the * upstream mining operations for the mining project interest;
(c) the extent to which mining equipment used in carrying on those upstream mining operations has been decommissioned.
130-10(4)
The choice must be given to the Commissioner.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
