Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 (14 of 2012)

Schedule 4   Application and transitional provisions

Part 4   Specialist liability rules

7   Combining mining project interests before commencement

Combining mining project interests

(1) Two or more mining project interests are taken by Division 115 of the Minerals Resource Rent Tax Act 2012 to be the same mining project interest from a particular time before 1 July 2012 if those interests would be taken to be the same mining project interest under that Division from that time if the time was after 1 July 2012.

Downstream integration of mining project interests

(2) If:

(a) disregarding paragraph 255-10(d) of the Minerals Resource Rent Tax Act 2012 (choosing to treat mining project interests as integrated), a mining project interest would have been integrated with another mining project interest at a time during the period:

(i) starting on 2 May 2010; and

(ii) ending just before the start of 1 July 2012; and

(b) the miner makes a valid choice under section 255-20 of that Act on or before the day on which the obligation to give an MRRT return for the first MRRT year falls due;

the requirement in paragraph 255-10(d) of that Act is taken to be satisfied at all times during the period starting at the time mentioned in paragraph (a) of this subitem and ending when the miner makes that choice.