MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]
Consolidated groups and MEC groups (groups of entities that are treated as single entities for income tax purposes) can choose to consolidate for MRRT purposes.
Following a choice to consolidate, subsidiary members are treated as part of the head company of the group for certain purposes, such as calculating MRRT payable.
Mining project interests that a subsidiary member brings to the group on joining are treated as having been transferred to the head company.
Mining project interests that a subsidiary member takes with it on leaving are treated as having been transferred from the head company to the member.
|215-5||Objects of this Division|
|215-10||Choice to consolidate for MRRT purposes|
|215-15||Single entity rule|
|215-20||Project interests transferred to head company etc. on joining|
|215-25||Project interests transferred to leaving entity on leaving|
|215-30||Mining project interests etc. split to leaving entity on leaving|
|215-35||Acquisition of consolidated group by another consolidated group etc.|
|215-40||Instalment rates for leaving entity or new head company|
|215-45||Effect of choice to continue group after shelf company becomes new head company|
|215-50||Effect of change of head company or provisional head company of a MEC group|
|215-55||Effect of group conversions involving MEC groups|