MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-3 - MINING PROFITS  

Division 30 - Mining revenue  

Subdivision 30-A - A miner ' s mining revenue  

SECTION 30-5  

30-5   A MINER ' S MINING REVENUE  
A miner ' s mining revenue for a mining project interest that the miner has, for an * MRRT year , is the sum of all the amounts that, under this Act, are included in the miner ' s mining revenue for that interest for that year.

Note:

Most of the amounts are covered by this Division. However, the following amounts may also be included in a miner ' s mining revenue:

(a) amounts that are in effect recoupment of the value of starting base assets (see section 90-65 );

(b) certain pre-mining profits (see section 140-20 );

(c) amounts arising as a result of adjustments to take account of changes in circumstances (see Division 160 );

(d) amounts arising as a result of balancing adjustment events for starting base assets (see Division 165 ).

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History

S 30-5 amended by No 71 of 2012, s 3 and Sch 5 item 6, by substituting the note at the end, effective 1 July 2012. The note formerly read:

Note:

Most of the amounts are covered by this Division. However, the following amounts may also be included in a miner ' s mining revenue:

(a) amounts that are in effect recoupment of the value of starting base assets (see section 90-65 );

(b) amounts arising as a result of adjustments to take account of changes in circumstances (see Division 160 );

(c) amounts arising as a result of balancing adjustment events for starting base assets (see Division 165 ).

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