MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
A miner is entitled to an offset for an MRRT year if the miner ' s group mining profit for the year is less than $ 125 million.
If that profit is less than or equal to $ 75 million, an offset reduces the amount of MRRT the miner must pay for the year to nil.
An offset phases out between profits of $ 75 million and $ 125 million, so that the miner is not immediately subjected to a full MRRT liability when the miner ' s group profit exceeds $ 75 million.
|45-5||Low profit offset - profits not greater than $ 75 million|
|45-10||Low profit offset - profits greater than $ 75 million and less than $ 125 million|