MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-5 - PAYMENT OF MRRT  

Division 50 - How to work out when to pay MRRT  

Operative provisions  

SECTION 50-5   WHEN ASSESSED MRRT IS PAYABLE  

50-5(1)  
* Assessed MRRT that a miner must pay under section 10-20 for an * MRRT year is due and payable on the first day of the sixth month after the end of the MRRT year.

Example:

If the miner ' s MRRT year is the same as the financial year, the assessed MRRT would be due and payable on 1 December.

Note:

The Commissioner may defer the time at which the assessed MRRT is due and payable: see section 255-10 in Schedule 1 to the Taxation Administration Act 1953 .

50-5(2)  
To avoid doubt, the * assessed MRRT may be taken to have been due and payable at a time before the * assessment was made.

50-5(3)  
If the Commissioner amends a miner ' s * assessment , any extra * assessed MRRT resulting from the amendment is due and payable 21 days after the day on which the Commissioner gives the miner notice of the amended assessment.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.