MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-3 - MINING PROFITS  

Division 35 - Mining expenditure  

Subdivision 35-A - A miner ' s mining expenditure  

SECTION 35-5   A MINER ' S MINING EXPENDITURE  

35-5(1)    
A miner ' s mining expenditure 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 expenditure for that interest for that year.

Note:

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

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

(b) amounts arising as a result of changed use of starting base assets (see section 165-55 ).

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History

S 35-5(1) amended by No 88 of 2013, s 3 and Sch 7 item 9, by substituting the note, effective 1 July 2012. The note formerly read:

Note:

Most of the amounts are covered by this Division. However, amounts arising as a result of adjustments to take account of changes in circumstances may also be included in a miner ' s mining expenditure (see Division 160 ).

35-5(2)    
However, an amount is not included in the miner ' s mining expenditure for the mining project interest for the * MRRT year to the extent that it is * excluded expenditure .

Note:

For excluded expenditure , see Subdivision 35-B .

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