Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 (14 of 2012)

Schedule 3   Amendment of other Acts

Part 1   Amendments commencing at the same time as the Minerals Resource Rent Tax Act 2012 commences

Income Tax Assessment Act 1997

72   Subsection 995-1(1)

Insert:

MRRT payable , by a *miner for an *MRRT year, means the sum of the *MRRT liabilities for each *mining project interest the miner has for that year, less the sum of any offsets the miner has for that year under Division 45 or 225 of the Minerals Resource Rent Tax Act 2012.