MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-6 - INTEGRITY MEASURES  

Division 210 - Anti-avoidance  

Subdivision 210-B - Commissioner may negate effects of schemes for MRRT benefits  

SECTION 210-30   COMMISSIONER MAY COMPENSATE ENTITY OR ANOTHER ENTITY  

210-30(1)  
This section applies if:


(a) the Commissioner has made a determination under section 210-25 to negate the * MRRT benefit an * entity gets or got from the * scheme ; and


(b) the Commissioner considers that the entity or another entity gets or got an * MRRT disadvantage from the scheme; and


(c) the Commissioner considers that it is fair and reasonable that the entity or other entity ' s MRRT disadvantage be negated or reduced.

210-30(2)  
An * entity gets an MRRT disadvantage from a * scheme if:


(a) an * MRRT liability of the entity for a mining project interest for an * MRRT year under the * MRRT law (apart from this Division) is, or could reasonably be expected to be, larger than it would be apart from the scheme; or


(b) one or more of the following amounts the entity has for an MRRT year under the MRRT law (apart from this Division) is, or could reasonably be expected to be, smaller than it would be apart from the scheme:


(i) an offset under Division 45 (low profit offsets);

(ii) an offset under Division 225 (rehabilitation tax offsets).

210-30(3)  
For the purposes of negating or reducing the * entity ' s or other entity ' s * MRRT disadvantage from the * scheme , the Commissioner may make a determination stating any of the following:


(a) the amount that, under the * MRRT law , is (and has been at all times) the entity ' s or other entity ' s * MRRT liability for a mining project interest for an * MRRT year that has ended;


(b) one or more of the following amounts that, under the MRRT law, is (and has been at all times) the amount the entity has for an MRRT year that has ended:


(i) an offset under Division 45 (low profit offsets);

(ii) an offset under Division 225 (rehabilitation tax offsets).

210-30(4)  
An * entity may give the Commissioner a written request to make a determination under this section relating to the entity. The Commissioner must decide whether or not to grant the request, and give the entity notice of the Commissioner ' s decision.

210-30(5)  
If the * entity is dissatisfied with the Commissioner ' s decision not to grant the request the entity may object, in the manner set out in Part IVC of the Taxation Administration Act 1953 , against that decision.

210-30(6)  
The Commissioner may take such action as the Commissioner considers necessary to give effect to the determination.


 

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