MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-1 - ROYALTY ALLOWANCES  

Division 60 - Royalty allowances  

Operative provisions  

SECTION 60-5   60-5   OBJECTS OF THIS DIVISION  
The objects of this Division are:


(a) to reduce a miner ' s * MRRT liability relating to profits relating to * taxable resources , to the extent those taxable resources are subject to Commonwealth, State and Territory royalties; and


(b) to provide an uplift for unapplied * royalty credits , which compensates for:


(i) the delay where royalty credits are applied in a later year; and

(ii) the risk that royalty credits may not be able to be applied in a later year.



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