Lodging for MRRT

Entities need to consider their circumstances to ensure that their MRRT obligations that cover the periods from 1 July 2012 up to and including 30 September 2014 are met. These MRRT obligations include:

• lodgment of MRRT instalment liability notices
• lodgment of MRRT returns

MRRT instalment liability notices

Entities are required to lodge MRRT instalment liability notices that cover the periods from 1 July 2012 to 30 September 2014, unless they are exempt.

We have exempt entities in the following categories from lodging MRRT instalment liability notices:

• explorers (for their 2013, 2014 and 2015 MRRT years)
• pre-production taxpayers (for their 2014 and 2015 MRRT years)
• simplified MRRT method taxpayers (for their 2014 and 2015 MRRT years)

An entity is an explorer for an MRRT year (and will not have to lodge MRRT instalment notices for that MRRT year) if they hold one or more pre-mining project interests and did not have a mining project interest for that year.

An entity is a pre-production taxpayer for an MRRT year (and will not have to lodge MRRT instalment notices for that MRRT year) if it holds one or more mining project interest where production (other than incidental production) of a taxable resource had not commenced nor expected to occur.

An entity is a Simplified MRRT method taxpayer (and will not have to lodge MRRT instalment notices for that MRRT year) if they had notified the Commissioner in the approved form of their choice to use the Simplified MRRT method in the prior year.

MRRT returns

An entity reports its mining or pre-mining revenue, mining or pre-mining expenditure and allowances (MRRT amounts) for its MPIs and PMPIs on its MRRT return.

An entity that has an MPI or holds a PMPI during an MRRT year needs to lodge an MRRT return for that MRRT year.

Entities will need to lodge MRRT returns for the MRRT years that cover 1 July 2012 to 30 September 2014 unless they are exempt from having to lodge an MRRT return.

We have exempt entities in the following categories from having to lodge MRRT returns:

• low volume non-paying entities (2013, 2014 and 2015 MRRT years)
• large volume non-paying entities (2014 and 2015 MRRT years)

An entity is a low volume non-paying entity for an MRRT year (and will not have to lodge an MRRT return for that MRRT year) if the entity did not pay an MRRT instalment in respect of any instalment quarter during that MRRT year and was not a major producer (as defined) in that MRRT year. An entity is a major producer for an MRRT year if it is a miner that would have a group production of taxable resources of more than 20 million tonnes for that MRRT year.

An entity is a large volume non-paying entity for an MRRT year (and will not have to lodge an MRRT return for that year) if:

• the entity did not pay an MRRT instalment in respect of any instalment quarter during that MRRT year, and
• the Commissioner of Taxation has determined in writing that the entity is a large volume non-paying entity for that MRRT year. The Commissioner will make such a determination following an application by the entity, if the Commissioner is satisfied that the entity is unlikely to be liable to pay MRRT for that MRRT.

Next step:

• contact us on 13 28 66 if you are required to lodge or need further assistance.