MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
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 .
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