MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
To the extent an amount that is received or becomes receivable by a miner is by way of * recoupment of a liability that gives rise to a * royalty credit for a mining project interest the miner has:
(a) the amount is to be increased by dividing it by the * MRRT rate ; and
(b) that increased amount is applied to reduce royalty credits for the interest:
(i) in the * MRRT year in which the amount is received or becomes receivable (the recoupment year ); and
(ii) in the order in which the royalty credits arise; and
(iii) before applying the royalty credits in working out a * royalty allowance or a * transferred royalty allowance for the recoupment year.
Note:
Paragraph (a) grosses-up the recoupment in the same way that section 60-25 grosses-up the liability giving rise to the royalty credit.
60-30(2)
If the increased amount exceeds the sum of those * royalty credits , section 30-45 applies to the excess (the excess royalty recoupment ) in the recoupment year.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
