MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-2 - TRANSFERRED ROYALTY ALLOWANCES  

Division 65 - Transferred royalty allowances  

Operative provisions  

SECTION 65-15   THE AMOUNT OF A TRANSFERRED ROYALTY ALLOWANCE  

65-15(1)  
The amount of the miner ' s * transferred royalty allowance is so much of the sum of the available royalty credits as does not exceed the remaining profit.

65-15(2)  
In working out the amount of a * transferred royalty allowance , * royalty credits are applied in the order in which they arise, but the miner may choose the order in which to apply royalty credits that arise at the same time.

Note:

Division 119 in Schedule 1 to the Taxation Administration Act 1953 is about choices under the MRRT law.




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