MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-2 - TRANSFERRED ROYALTY ALLOWANCES  

Division 65 - Transferred royalty allowances  

Operative provisions  

SECTION 65-20   AVAILABLE ROYALTY CREDITS  

65-20(1)    
A * royalty credit can be applied in working out a * transferred royalty allowance for a mining project interest for an * MRRT year (the transfer year ) if:

(a) the mining project interest and the mining project interest for which the royalty credit arises are * integrated at all times in the period:

(i) starting at the time the * royalty credit arises; and

(ii) ending at the end of the transfer year; and

Note 1:

For when a royalty credit arises, see section 60-20.

Note 2:

For when mining project interests are integrated , see Division 255 .

(b) the royalty credit does not relate to an MRRT year for which there was a choice to use the alternative valuation method under Division 175 in relation to the mining project interest for which the royalty credit arises.

65-20(2)    
However, the * royalty credit cannot be applied to the extent it is applied in working out:

(a) a * royalty allowance ; or

(b) a * transferred royalty allowance ;

for another mining project interest for the year.