MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-5 - PAYMENT OF MRRT  

Division 50 - How to work out when to pay MRRT  

Operative provisions  

SECTION 50-5   WHEN ASSESSED MRRT IS PAYABLE  

50-5(1)    
* Assessed MRRT that a miner must pay under section 10-20 for an * MRRT year is due and payable on the first day of the sixth month after the end of the MRRT year.

Example:

If the miner ' s MRRT year is the same as the financial year, the assessed MRRT would be due and payable on 1 December.

Note:

The Commissioner may defer the time at which the assessed MRRT is due and payable: see section 255-10 in Schedule 1 to the Taxation Administration Act 1953 .


50-5(2)    
To avoid doubt, the * assessed MRRT may be taken to have been due and payable at a time before the * assessment was made.

50-5(3)    
If the Commissioner amends a miner ' s * assessment , any extra * assessed MRRT resulting from the amendment is due and payable 21 days after the day on which the Commissioner gives the miner notice of the amended assessment.


 

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