MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 4
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SPECIALIST LIABILITY RULES
PART 4-1
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MINING PROJECT INTERESTS
Division 125
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Splitting mining project interests
Operative provisions
SECTION 125-25
125-25
EFFECT OF MRRT LIABILITY FROM EARLIER YEARS ON REHABILITATION TAX OFFSET AMOUNTS
For the purposes of section 225-15 , only a proportion, worked out on a reasonable basis, of an * MRRT liability , of the original miner or any other miner, for the mining project interest for an * MRRT year before the year in which a * mining project split happens, is taken to have been paid in relation to a new interest.
For the purposes of section 225-15 , only a proportion, worked out on a reasonable basis, of an * MRRT liability , of the original miner or any other miner, for the mining project interest for an * MRRT year before the year in which a * mining project split happens, is taken to have been paid in relation to a new interest.
Note:
The original miner is required to give the new miner the information it needs to work out the amount of a rehabilitation tax offset: see Division 121 in Schedule 1 to the Taxation Administration Act 1953 .
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