MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-4 - VALUATION  

Division 175 - Alternative valuation method  

Subdivision 175-C - Amounts included in mining revenue under the alternative valuation method  

SECTION 175-25   HOW TO WORK OUT THE SINGLE AMOUNT  
Work out the single amount to be included under section 30-10 , in a miner ' s * mining revenue for a mining project interest for an * MRRT year , as follows: Method statement


Step 1.

For each of the * taxable resources covered by the alternative valuation method for the interest for the year, work out the unadjusted revenue amount under section 175-30 .


Step 2.

Add together all of the unadjusted revenue amounts for the * taxable resources covered by the alternative valuation method for the interest for the year.


Step 3.

Add together all of the following amounts:

  • (a) the miner ' s downstream operating costs, worked out under section 175-35 , for the interest for the year;
  • (b) the sum of the amounts, worked out under section 175-40 , by which the assets of the miner relating to the interest, to which that section applies, have depreciated in value during the year;
  • (c) a return on the miner ' s capital costs for the interest for the year, worked out under section 175-45 .

  • Step 4.

    Reduce the amount under step 2 by the amount under step 3. The result is the single amount to be included in the miner ' s * mining revenue for the mining project interest for the year.


     

    Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

    CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

    The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.