MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-4 - VALUATION  

Division 175 - Alternative valuation method  

Subdivision 175-B - Choosing to use the alternative valuation method  

SECTION 175-15   GROUP PRODUCTION OF TAXABLE RESOURCES  

175-15(1)    
The group production of * taxable resources mentioned in paragraph 175-10(1)(a) for the miner, for an * MRRT year , is the number of tonnes of taxable resources that:

(a) relate to mining project interests the following * entities have, or * pre-mining project interests that they * hold :

(i) the miner;

(ii) an entity * connected with the miner;

(iii) an * affiliate of the miner;

(iv) an entity of which the miner is an affiliate;

(v) an affiliate of an entity covered by subparagraph (ii);

(vi) an entity connected with an entity covered by subparagraph (ii), (iii) or (iv); and

(b) have reached, during the MRRT year, the form in which the resources are intended to be:

(i) supplied or exported as mentioned in paragraph 30-15(1)(a) or (b) ; or

(ii) used to produce something, but not after having been supplied or exported as mentioned in paragraph 30-15(1)(a) or (b) .

Note:

If the MRRT year is not a 12-month period, the group production of taxable resources is affected by section 190-20 (substituted accounting periods).

175-15(2)    
For the purposes of subsection (1) , the number of tonnes of a * taxable resource is to be calculated when the resource is in the form mentioned in paragraph (1)(b).

175-15(3)    
If:

(a) subsection (1) applies in relation to a * taxable resource ; and

(b) the taxable resource is a quantity of something produced from a process that results in iron ore or coal being consumed or destroyed without extraction;

treat as the number of tonnes of that resource, for the purposes of this section, the number of tonnes of iron ore or coal that was so consumed or destroyed.