MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
A mining revenue event happens in relation to a * taxable resource extracted from the * project area for a mining project interest if the miner who has the interest:
(a) makes an * initial supply of the taxable resource, but not after its exportation from * Australia ; or
(b) exports the taxable resource from Australia, but not after paragraph (a) has applied to the taxable resource; or
(c) makes an initial supply of or uses, or exports from Australia, something produced using the taxable resource, but not after:
(i) paragraph (a) or (b) has already applied in relation to the taxable resource; or
(ii) this paragraph has already applied in relation to the thing produced using the taxable resource.
Note:
There is at least one mining revenue event in relation to each quantity of taxable resource. However, there could only be more than one mining revenue event in relation to a quantity of taxable resource if more than one thing is produced from it.
Example:
There are 2 mining revenue events in relation to a quantity of coal if it is extracted then consumed producing both electricity and fly-ash.
View history note
Hide history note30-15(2)
However, a mining revenue event does not happen for use of a thing produced using a * taxable resource , to the extent that:
(a) the use takes place in the course of operations or activities of a kind mentioned in paragraph 35-20(1)(a) for the mining project interest; and
(b) those operations or activities do not involve doing anything to, or with, other taxable resources extracted from the * project area for the interest after those other taxable resources reach the form and location they are in when a mining revenue event happens in relation to them; and
(c) the use does not give rise to:
(i) an amount of * mining expenditure for the miner; or
(ii) an amount that is taken into account for the miner under step 2 of the method statement in section 30-25 ; or
(iii) an amount that is taken into account for the miner under step 3 of the method statement in section 175-25 (alternative valuation method).
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