MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-3 - MINING PROFITS  

Division 30 - Mining revenue  

Subdivision 30-B - Revenue from supply, export or use of taxable resources  

SECTION 30-20   MEANING OF INITIAL SUPPLY  

30-20(1)  
An initial supply of a * taxable resource , or something produced using a taxable resource, is the first * supply of the taxable resource or thing a miner makes, disregarding a supply covered by subsection (2) .

30-20(2)  
However, a * supply of a * taxable resource , or something produced using such a taxable resource, is not an initial supply if:


(a) the supply is made between * entities in the course of a * mining venture in relation to which each of the entities has a mining project interest; or


(b) the supply does not result in a change in the ownership of the taxable resource or the thing produced using such a taxable resource.




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