MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-4 - VALUATION  

Division 170 - Valuation principles  

Operative provisions  

SECTION 170-5   VALUATIONS TO COMPLY WITH VALUATION PRINCIPLES  

170-5(1)    
The value of a thing that is to be valued for the purposes of working out an amount under the * MRRT law is to be worked out in accordance with the valuation principles set out in section 170-10 .

Note:

The following are some examples of things that may be valued:

  • (a) a starting base asset (to work out a starting base loss);
  • (b) a mining project interest or pre-mining project interest (to work out a split percentage).


    • 170-5(2)    
    Subsection (1) is a general rule that is subject to the specific rules in the * MRRT law outside this Division.

    170-5(3)    
    To avoid doubt, subsection (1) applies:


    (a) whether or not a provision of the * MRRT law requires a thing to be valued at its * market value ; and


    (b) whether or not a provision of the MRRT law expressly requires an amount to be worked out by making a valuation.

     

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