Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)
Schedule 7 Miscellaneous amendments
Part 1 Resource rent taxation
Minerals Resource Rent Tax Act 2012
68 After subsection 200-15(1)
(1A) For the purposes of subsection (1), assume that, during the whole of the *MRRT year, the entity has a particular mining project interest to the extent (if any) that the entity has the interest immediately before the end of the year.
Example: If, during the MRRT year, a mining project interest that the entity had at the start of the year was subject to a mining project split with another entity (and they retained their new interests for the rest of the year), the entity's profit under subsection (1) is worked out as if the entity's split percentage applied for the whole year.
If the other entity's profit under subsection (1) is relevant, it is worked out as if the other entity's split percentage applied for the whole year.