Instructions for MRRT return PMPI schedule

Read these instructions before completing the Minerals resource rent tax (MRRT) return pre-mining project interest (PMPI) schedule (NAT 74261).

In the schedule, complete a row for every PMPI the entity holds and residual mining project interest (MPI) the entity has (where pre-mining or mining expenditure exceeds pre-mining or mining revenue) at the end of the period for the corresponding MRRT return. If a PMPI or residual MPI did not generate revenue or expenditure, you don't need to include that interest in the schedule.

You don't need to lodge this schedule if the entity has chosen the simplified MRRT method for the MRRT year.

Along with the entity's Minerals resource rent tax (MRRT) return, you will usually have to lodge:

• a Minerals resource rent tax (MRRT) return mining project interest (MPI) schedule for
  • each MPI the entity had at the end of the return period
  • each PMPI and residual MPI the entity had at the end of the return period if the MPI or PMPI had revenue or expenditure and revenue exceeded expenditure
  • any PMPI or residual MPI that the entity claims a rehabilitation tax offset amount
   
• a Minerals resource rent tax (MRRT) return pre-mining project interest (PMPI) schedule for each PMPI and residual MPI the entity had at the end of the return period if they generated revenue or expenditure and expenditure exceeded revenue.

You do not need to lodge this schedule for a PMPI or residual MPI if the termination day has occurred for either unless the interest has revenue or incurred expenditure during the return period.

All amounts on the MRRT return PMPI schedule and associated attachments need to be expressed in Australian dollars. Round down to whole dollars (do not include cents). If the entity has chosen to use a functional currency for income tax purposes, the same functional currency applies for MRRT.

Find out more:  

• Visit ato.gov.au/mrrt
• Phone us on 13 28 66 between 8.00am and 6.00pm, Monday to Friday

Schedule information

If you are revising a previously lodged MRRT return PMPI schedule, indicate the revision number in the box provided (1 for first revision, 2 for second revision, and so on). Also provide the schedule number of the original schedule you want to revise. Complete the form in full – do not just provide the information affected by the revision.

Find out more:  

• Instructions for MRRT return

Under the heading ‘Specify the period to which the return relates’ insert the day, month and year of the:

• first day of the return period in the first set of boxes
• last day of the return period in the second set of boxes.

The period of the schedule is the same as the entity’s corresponding MRRT return.

Entity information

Insert the entity's Australian business number (ABN) at question 1 and legal name at question 3. We ask for the entity's tax file number (TFN) at question 2 – you don’t have to provide this information but it helps us correctly identify the entity.

Section B: PMPI and residual MPI revenue and expenditure details

Copy and complete as many 'Section Bs' as necessary to provide details of all of the entity's PMPIs and residual MPIs that generated revenue or expenditure during the return period. Number each copy of Section B and state the total number of Section Bs.

In column 1, indicate if the interest is a (residual) MPI or PMPI by placing an X in the 'MPI' or 'PMPI' box.

In column 2, insert the name of the mine or project. If the entity has multiple MPIs or PMPIs relating to the same project or mine, number the project or mine names of such interests sequentially. Use the numbers consistently for all future MRRT years.

In column 3, insert the tenement/lease number.

In column 4, insert the state or territory of issue for the tenement/lease number.

In column 5, tell us if the interest relates to iron ore or coal by placing X in the ‘iron ore’ or ‘coal’ box.

In column 6, insert the sum of pre-mining or mining revenue generated by the interest during the return period.

Find out more:  

• How to determine mining revenue

In column 7, insert the sum of pre-mining or mining expenditure (including capital and operating expenditure) incurred for the interest during the return period.

If you use an applicable functional currency (foreign currency) for reporting purposes only, translate the sum of pre-mining/mining revenue and pre-mining/mining expenditure from your applicable functional currency into Australian dollars. Use the exchange rate of the last day of the entity's MRRT year.

Find out more:  

• How to determine mining expenditure

Section C: Declaration

An authorised person or authorised tax agent must sign the declaration on behalf of the entity. The authorised person is generally the person the entity nominated on its Application to register for minerals resource rent tax (MRRT) (NAT 74022). To change the authorised contact person, phone us on 13 28 66 between 8.00am and 6.00pm, Monday to Friday, or complete a Notification of change to minerals resource rent tax (MRRT) registration (NAT 74023).

If the person signing the declaration is a registered tax agent that is a partnership or a company, the declaration must be signed by a person authorised by that partnership or company to sign on its behalf.

Insert all details of the authorised person:

• the full name of the signatory
• the position held
• registered tax agent number (if applicable)
• the business phone number.

Carefully read the information at 'Before you sign this form' and 'Privacy'. If you consent to the declaration, place an X at the appropriate declaration statement and include your signature and the date of signing.

You must sign the declaration in pen otherwise we cannot record the schedule as lodged when we receive it.