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- Part 1-1—Preliminary
- Part 1-2—A guide to this Act
- Part 2-1—Core rules
- Part 2-2—Mining project interests
- Part 2-3—Mining profits
- Part 2-4—Low profit offsets
- Part 2-5—Payment of MRRT
- Part 3-1—Royalty allowances
- Part 3-2—Transferred royalty allowances
- Part 3-3—Pre-mining loss allowances
- Part 3-4—Mining loss allowances
- Part 3-5—Starting base allowances
- Part 3-6—Transferred pre-mining loss allowances
- Part 3-7—Transferred mining loss allowances
- Part 4-1—Mining project interests
- Part 4-2—Pre-mining project interests
- Part 4-3—Adjusting MRRT liabilities
- Part 4-4—Valuation
- Part 4-5—Accounting for MRRT
- Part 4-6—Integrity measures
- Part 4-7—Entities
- Part 4-8—Miscellaneous
- Part 6-1—Rules for interpreting this Act
- Part 6-2—Meaning of some important concepts
- Part 6-3—Dictionary
2010-2011-2012
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
As passed by both Houses
Minerals Resource Rent Tax Bill 2012
No. , 2012
A Bill for an Act about a minerals resource rent tax, and for related purposes
Contents
Part 1-1—Preliminary 1
Division 1—Preliminary 1
1-1......... Short title............................................................................................. 1
1-5......... Commencement................................................................................... 2
1-10....... Object of this Act................................................................................ 2
1-15....... Administration of this Act................................................................... 2
1-20....... Extension to external Territories.......................................................... 2
1-25....... Extraterritorial application................................................................... 2
Part 1-2—A guide to this Act 3
Division 2—Overview of this Act 3
2-1......... What this Act is about......................................................................... 3
2-5......... How this Act is arranged.................................................................... 4
Division 3—Defined terms 5
3-1......... When defined terms are identified....................................................... 5
3-5......... When terms are not identified.............................................................. 5
3-10....... Identifying the defined term in a definition.......................................... 5
Division 4—Status of guides and other non-operative material 6
4-1......... Non-operative material........................................................................ 6
4-5......... Guides................................................................................................. 6
4-10....... Other material...................................................................................... 6
Chapter 2—General liability rules 7
Part 2-1—Core rules 7
Division 10—Core rules 7
10-1....... A miner’s liability for MRRT............................................................. 7
10-5....... The MRRT liability for a mining project interest................................. 7
10-10..... MRRT allowances.............................................................................. 8
10-15..... The effect of low profits on a miner’s liability for MRRT.................. 8
10-20..... Payment of MRRT.............................................................................. 9
10-25..... MRRT years....................................................................................... 9
Part 2-2—Mining project interests 10
Division 15—Mining project interests 10
Guide to Division 15 10
15-1....... What this Division is about............................................................... 10
Operative provisions 10
15-5....... When an entity has a mining project interest ..................................... 10
15-10..... Iron ore mining project interests to be kept separate.......................... 13
15-15..... Meaning of production right ............................................................. 13
15-20..... Meaning of project area ................................................................... 14
Division 20—Taxable resources 15
Guide to Division 20 15
20-1....... What this Division is about............................................................... 15
Operative provisions 15
20-5....... What are taxable resources ............................................................... 15
Part 2-3—Mining profits 17
Division 25—Mining profits 17
Guide to Division 25 17
25-1....... What this Division is about............................................................... 17
Operative provisions 17
25-5....... How to work out the mining profit for a mining project interest....... 17
Division 30—Mining revenue 19
Guide to Division 30 19
30-1....... What this Division is about............................................................... 19
Subdivision 30-A—A miner’s mining revenue 19
30-5....... A miner’s mining revenue ................................................................. 20
Subdivision 30-B—Revenue from supply, export or use of taxable resources 20
30-10..... When amounts from taxable resources etc. are included in mining revenue 20
30-15..... Meaning of mining revenue event..................................................... 21
30-20..... Meaning of initial supply .................................................................. 22
30-25..... Working out amounts to be included................................................. 22
30-30..... Meaning of arm’s length consideration ............................................ 26
30-35..... When supplies are made.................................................................... 26
Subdivision 30-C—Other revenue 26
30-40..... Recoupment or offsetting of mining expenditure.............................. 27
30-45..... Recoupment of payments that give rise to royalty credits.................. 28
30-50..... Compensation for loss of taxable resources...................................... 28
30-55..... Amounts that do not relate to a particular mining revenue event....... 29
Subdivision 30-D—Miscellaneous 29
30-60..... No double counting........................................................................... 29
30-65..... Expenditure incurred in causing amounts to be received etc.............. 29
30-70..... Amounts taken to be received........................................................... 30
30-75..... GST and increasing adjustments....................................................... 30
Division 35—Mining expenditure 31
Guide to Division 35 31
35-1....... What this Division is about............................................................... 31
Subdivision 35-A—A miner’s mining expenditure 31
35-5....... A miner’s mining expenditure ........................................................... 31
35-10..... General expenditure.......................................................................... 32
35-15..... Meaning of upstream mining operations .......................................... 32
35-20..... Meaning of mining operations .......................................................... 33
35-25..... No double counting........................................................................... 34
Subdivision 35-B—Excluded expenditure 34
35-35..... Cost of acquiring rights and interests in projects............................... 35
35-40..... Royalties........................................................................................... 35
35-45..... Meanings of mining royalty and private mining royalty ................... 36
35-50..... Financing costs................................................................................. 37
35-55..... Hire purchase agreements................................................................. 38
35-60..... Non-adjacent land and buildings used in administrative or accounting activities 39
35-65..... Hedging or foreign exchange arrangements...................................... 39
35-70..... Rehabilitation bond and trust payments............................................. 39
35-75..... Payments of income tax or GST....................................................... 40
Division 40—Valuation point 41
Guide to Division 40 41
40-1....... What this Division is about............................................................... 41
Operative provisions 41
40-5....... Meaning of valuation point ............................................................... 41
Part 2-4—Low profit offsets 43
Division 45—Low profit offsets 43
Guide to Division 45 43
45-1....... What this Division is about............................................................... 43
Operative provisions 43
45-5....... Low profit offset—profits not greater than $75 million.................... 43
45-10..... Low profit offset—profits greater than $75 million and less than $125 million 44
Part 2-5—Payment of MRRT 46
Division 50—How to work out when to pay MRRT 46
Guide to Division 50 46
50-1....... What this Division is about............................................................... 46
Operative provisions 46
50-5....... When assessed MRRT is payable..................................................... 46
50-10..... When shortfall interest charge is payable.......................................... 47
50-15..... General interest charge payable on unpaid assessed MRRT or shortfall interest charge 47
Chapter 3—MRRT allowances 49
Part 3-1—Royalty allowances 49
Division 60—Royalty allowances 49
Guide to Division 60 49
60-1....... What this Division is about............................................................... 49
Operative provisions 50
60-5....... Objects of this Division.................................................................... 50
60-10..... When a miner has a royalty allowance.............................................. 50
60-15..... The amount of a royalty allowance.................................................... 50
60-20..... When a royalty credit arises.............................................................. 51
60-25..... Amount of a royalty credit................................................................ 51
60-30..... Royalty credits reduced by recoupments........................................... 53
Part 3-2—Transferred royalty allowances 54
Division 65—Transferred royalty allowances 54
Guide to Division 65 54
65-1....... What this Division is about............................................................... 54
Operative provisions 54
65-5....... Object of this Division...................................................................... 54
65-10..... When a miner has a transferred royalty allowance............................ 55
65-15..... The amount of a transferred royalty allowance.................................. 55
65-20..... Available royalty credits.................................................................... 55
Part 3-3—Pre-mining loss allowances 57
Division 70—Pre-mining loss allowances 57
Guide to Division 70 57
70-1....... What this Division is about............................................................... 57
Subdivision 70-A—Object of this Division 57
70-5....... Objects of this Division.................................................................... 57
Subdivision 70-B—When a miner has a pre-mining loss allowance 58
70-10..... When a miner has a pre-mining loss allowance................................. 58
70-15..... The amount of a pre-mining loss allowance...................................... 59
70-20..... Available pre-mining losses for a pre-mining loss allowance........... 59
70-25..... Meaning of pre-mining project interest etc....................................... 60
Subdivision 70-C—Pre-mining losses 60
70-30..... Pre-mining losses.............................................................................. 61
70-35..... Meaning of pre-mining expenditure etc............................................ 61
70-40..... Meaning of pre-mining revenue ........................................................ 63
Subdivision 70-D—Amounts of pre-mining losses 64
70-45..... Pre-mining losses for the MRRT years in which they arise.............. 64
70-50..... Pre-mining losses for later MRRT years........................................... 64
Part 3-4—Mining loss allowances 66
Division 75—Mining loss allowances 66
Guide to Division 75 66
75-1....... What this Division is about............................................................... 66
Operative provisions 66
75-5....... Objects of this Division.................................................................... 66
75-10..... When a miner has a mining loss allowance....................................... 67
75-15..... The amount of a mining loss allowance............................................ 67
75-20..... Mining losses.................................................................................... 67
Part 3-5—Starting base allowances 69
Division 80—Starting base allowances 69
Guide to Division 80 69
80-1....... What this Division is about............................................................... 69
Subdivision 80-A—Objects of this Division 70
80-5....... Objects of this Division.................................................................... 70
Subdivision 80-B—When a miner has a starting base allowance 70
80-10..... When a miner has a starting base allowance...................................... 71
80-15..... The amount of a starting base allowance........................................... 71
80-20..... When a miner has a starting base loss............................................... 71
Subdivision 80-C—Starting base assets 72
80-25..... Meaning of starting base asset ......................................................... 72
80-30..... Treating starting base assets as a single starting base asset............... 73
80-35..... Mine development expenditure may be a starting base asset............. 74
Subdivision 80-D—Amounts of starting base losses 75
80-40..... Starting base losses for the MRRT years in which they arise........... 75
80-45..... Starting base losses for later MRRT years........................................ 77
80-50..... Mining project interests originating from pre-mining project interests with different valuation approaches 78
Division 85—Valuation approaches 80
Guide to Division 85 80
85-1....... What this Division is about............................................................... 80
Operative provisions 80
85-5....... Choosing a valuation approach......................................................... 80
85-10..... Restriction on specifying the book value approach........................... 81
85-15..... The valuation approach for a mining project interest......................... 82
Division 90—Declines in value of starting base assets 83
Guide to Division 90 83
90-1....... What this Division is about............................................................... 83
Subdivision 90-A—How to work out the decline in value of a starting base asset 83
90-5....... How to work out the decline in value of a starting base asset........... 84
90-10..... Write off rates under the book value approach.................................. 84
90-15..... Write off rates under the market value approach............................... 85
Subdivision 90-B—Base values under the book value approach 87
90-20..... Application of this Subdivision......................................................... 87
90-25..... Initial base value................................................................................ 87
90-30..... Later base values............................................................................... 90
Subdivision 90-C—Base values under the market value approach 90
90-35..... Application of this Subdivision......................................................... 91
90-40..... Initial base value................................................................................ 91
90-45..... Mining project interest originating from pre-mining project interests etc. 92
90-50..... Later base values............................................................................... 93
Subdivision 90-D—Miscellaneous 93
90-55..... Meaning of interim expenditure ........................................................ 93
90-60..... Partial disposal of a starting base asset before the start time.............. 95
90-65..... Recoupment of the value of a starting base asset............................... 96
Part 3-6—Transferred pre-mining loss allowances 99
Division 95—Transferred pre-mining loss allowances 99
Guide to Division 95 99
95-1....... What this Division is about............................................................... 99
Operative provisions 99
95-5....... Object of this Division...................................................................... 99
95-10..... When a miner has a transferred pre-mining loss allowance............. 100
95-15..... The amount of a transferred pre-mining loss allowance.................. 100
95-20..... Available pre-mining losses for a transferred pre-mining loss allowance 100
95-25..... Cap on available pre-mining losses................................................. 102
95-30..... The pre-mining loss cap ................................................................. 103
Part 3-7—Transferred mining loss allowances 105
Division 100—Transferred mining loss allowances 105
Guide to Division 100 105
100-1..... What this Division is about............................................................. 105
Operative provisions 105
100-5..... Object of this Division.................................................................... 105
100-10... When a miner has a transferred mining loss allowance................... 106
100-15... The amount of a transferred mining loss allowance........................ 106
100-20... Available mining losses.................................................................. 106
100-25... Common ownership test................................................................. 107
Chapter 4—Specialist liability rules 108
Part 4-1—Mining project interests 108
Division 115—Combining mining project interests 108
Guide to Division 115 108
115-1..... What this Division is about............................................................. 108
Subdivision 115-A—Object of this Division 108
115-5..... Object of this Division.................................................................... 108
Subdivision 115-B—When mining project interests are combined 109
115-10... Mining project interests may be treated as the same mining project interest 109
115-15... Choosing to override non-compliance............................................. 110
115-20... Transferability of royalty credits..................................................... 111
115-25... Transferability of pre-mining losses................................................ 111
115-30... Transferability of mining losses...................................................... 111
115-35... Starting base losses and starting base assets................................... 112
Subdivision 115-C—The effect of combining mining project interests 112
115-40... The effect of combining mining project interests............................. 112
115-45... Allowance components arising in preceding MRRT years............. 113
115-50... Different valuation approaches for mining project interests............ 114
115-55... Transferred pre-mining loss allowances.......................................... 115
115-60... Transferred mining loss allowances................................................ 116
115-65... Choice of the alternative valuation method...................................... 117
Division 120—Transferring mining project interests 118
Guide to Division 120 118
120-1..... What this Division is about............................................................. 118
Operative provisions 118
120-5..... Object of this Division.................................................................... 118
120-10... Effect of mining project transfer...................................................... 119
120-15... Effect of transferred property.......................................................... 122
120-20... Events happening after mining project transfer............................... 123
120-25... Start of mining venture taken to be mining project transfer............. 124
Division 125—Splitting mining project interests 125
Guide to Division 125 125
125-1..... What this Division is about............................................................. 125
Operative provisions 125
125-5..... Object of this Division.................................................................... 125
125-10... Effect of mining project split........................................................... 126
125-15... Meaning of split percentage ............................................................ 130
125-20... Effect of transferred property.......................................................... 130
125-25... Effect of MRRT liability from earlier years on rehabilitation tax offset amounts 131
125-30... Events happening after mining project split..................................... 131
125-35... Start of mining venture taken to be mining project split.................. 132
Division 130—Winding down mining project interests 134
Guide to Division 130 134
130-1..... What this Division is about............................................................. 134
Operative provisions 134
130-5..... Object of this Division.................................................................... 134
130-10... Suspension days for mining project interests.................................. 134
130-15... Extinguishing allowance components............................................. 135
130-20... Restarting commercial production................................................... 136
Division 135—Ending mining project interests 137
Guide to Division 135 137
135-1..... What this Division is about............................................................. 137
Operative provisions 137
135-5..... The termination day for a mining project interest............................ 137
135-10... The effect of renewing or changing production rights..................... 137
135-15... The effect of renewing or changing mining ventures...................... 138
135-20... The effect of mining project transfers and mining project splits...... 138
135-25... Continuation of obligations etc. after the termination day................ 138
Part 4-2—Pre-mining project interests 140
Division 140—Pre-mining profits and royalty credits 140
Guide to Division 140 140
140-1..... What this Division is about............................................................. 140
Subdivision 140-A—Pre-mining profits 140
140-5..... Pre-mining profits........................................................................... 140
140-10... Treatment of pre-mining profits—general rule................................ 141
140-15... Effect on allowance components for other mining project interests. 142
140-20... Treatment of pre-mining profits—mining project interest originating from the pre-mining project interest 143
Subdivision 140-B—Pre-mining royalty credits 143
140-25... Pre-mining royalty credits............................................................... 143
Division 145—Transferring pre-mining project interests 145
Guide to Division 145 145
145-1..... What this Division is about............................................................. 145
Operative provisions 145
145-5..... Object of this Division.................................................................... 145
145-10... Continuation of pre-mining project interest..................................... 146
145-15... Effects of pre-mining project transfer.............................................. 146
145-20... Effect of transferred property.......................................................... 148
145-25... Events happening after pre-mining project transfer......................... 149
145-30... Pre-mining project transfer when mining project interest originates 150
Division 150—Splitting pre-mining project interests 152
150-1..... Guide to Division 150..................................................................... 152
Operative provisions 152
150-5..... Object of this Division.................................................................... 152
150-10... Continuation of pre-mining project interest..................................... 153
150-15... Effects of pre-mining project split................................................... 153
150-20... Effect of transferred property.......................................................... 155
150-25... Effect of MRRT liability from earlier years on rehabilitation tax offset amounts 156
150-30... Events happening after pre-mining project split.............................. 157
150-35... Pre-mining project split when mining project interest originates..... 158
Division 155—Ending pre-mining project interests 160
Guide to Division 155 160
155-1..... What this Division is about............................................................. 160
Operative provisions 160
155-5..... The termination day for a pre-mining project interest...................... 160
155-10... The effect of renewing or changing exploration rights.................... 160
155-15... The effect of pre-mining project transfers and pre-mining project splits.. 161
155-20... Continuation of obligations etc. after the termination day................ 161
155-25... Extinguishing allowance components............................................. 162
Part 4-3—Adjusting MRRT liabilities 163
Division 160—Adjustments to revenue and expenditure of project interests 163
Guide to Division 160 163
160-1..... What this Division is about............................................................. 163
Operative provisions 163
160-5..... Object of this Division.................................................................... 163
160-10... Mining adjustments......................................................................... 164
160-15... Effect of mining adjustments on mining revenue, mining expenditure etc. 165
Division 165—Starting base adjustments 168
Guide to Division 165 168
165-1..... What this Division is about............................................................. 168
Subdivision 165-A—Starting base adjustment events and starting base adjustment amounts 168
165-5..... Starting base adjustment events....................................................... 168
165-10... Starting base adjustment amounts................................................... 169
165-15... Reductions in declines in value of starting base assets.................... 171
Subdivision 165-B—General rules for starting base adjustments 172
165-20... Starting base adjustments................................................................ 172
165-25... The effect of starting base adjustments on starting base losses....... 173
165-30... The effect of negative starting base adjustments on mining revenue 174
Subdivision 165-C—Partial disposal of starting base assets 174
165-35... Starting base adjustments for partial disposal of starting base assets 174
165-40... Declines in value of retained parts of starting base assets............... 175
165-45... Reductions in starting base losses................................................... 177
165-50... Base value for the next MRRT year................................................ 178
Subdivision 165-D—Miscellaneous 178
165-55... Use etc. of starting base assets for other mining project interests etc. 178
165-60... Effect on base value of use etc. of starting base assets after starting base adjustment events 181
Part 4-4—Valuation 182
Division 170—Valuation principles 182
Guide to Division 170 182
170-1..... What this Division is about............................................................. 182
Operative provisions 182
170-5..... Valuations to comply with valuation principles............................... 182
170-10... The valuation principles.................................................................. 183
Division 175—Alternative valuation method 185
Guide to Division 175 185
175-1..... What this Division is about............................................................. 185
Subdivision 175-A—Object of this Division 185
175-5..... Object of this Division.................................................................... 186
Subdivision 175-B—Choosing to use the alternative valuation method 186
175-10... Choosing to use the alternative valuation method............................ 186
175-15... Group production of taxable resources........................................... 187
Subdivision 175-C—Amounts included in mining revenue under the alternative valuation method 188
175-20... When amounts are included in mining revenue under the alternative valuation method 188
175-25... How to work out the single amount................................................ 189
175-30... Unadjusted revenue amounts.......................................................... 190
175-35... Downstream operating costs........................................................... 190
175-40... Depreciation of assets..................................................................... 190
175-45... Return on capital costs.................................................................... 192
Division 180—Valuation of starting base assets using the look-back approach 194
Guide to Division 180 194
180-1..... What this Division is about............................................................. 194
Operative provisions 194
180-5..... Choosing to apply the look-back approach..................................... 194
180-10... The effect of the look-back approach on valuation of mining project interests 195
Part 4-5—Accounting for MRRT 197
Division 185—Currency translation 197
Guide to Division 185 197
185-1..... What this Division is about............................................................. 197
Operative provisions 197
185-5..... Objects of this Division.................................................................. 197
185-10... Translation of amounts into Australian currency............................. 198
185-15... Functional currency rules................................................................ 199
185-20... Functional currency rules—Australian permanent establishments.. 201
185-25... Special translation rules................................................................... 202
Division 190—Substituted accounting periods 207
Guide to Division 190 207
190-1..... What this Division is about............................................................. 207
Operative provisions 207
190-5..... Object of this Division.................................................................... 207
190-10... Accounting periods recognised for income tax purposes................ 207
190-15... Changes in accounting periods........................................................ 208
190-20... The effect of transitional accounting periods on threshold amounts 209
190-25... The effect of transitional accounting periods on uplift factors......... 211
Division 195—Non-cash benefits 212
Guide to Division 195 212
195-1..... What this Division is about............................................................. 212
Operative provisions 212
195-5..... Object of this Division.................................................................... 212
195-10... Barter transactions........................................................................... 213
195-15... Gift transactions.............................................................................. 213
Division 200—Simplified MRRT method 215
Guide to Division 200 215
200-1..... What this Division is about............................................................. 215
Operative provisions 215
200-5..... Effect of the simplified MRRT method........................................... 215
200-10... Choosing to use the simplified MRRT method............................... 216
200-15... Working out an entity’s profit for simplified MRRT method purposes 217
Part 4-6—Integrity measures 219
Division 205—Anti-profit shifting 219
Guide to Division 205 219
205-1..... What this Division is about............................................................. 219
Operative provisions 219
205-5..... Object of Division........................................................................... 219
205-10... Amounts to reflect independent dealings......................................... 220
205-15... Method to be used when determining amounts for the purposes of this Division 221
205-20... Commissioner may compensate entity or another entity.................. 222
205-25... Commissioner determinations......................................................... 224
Division 210—Anti-avoidance 226
Guide to Division 210 226
210-1..... What this Division is about............................................................. 226
Subdivision 210-A—Application of this Division 226
210-5..... Object of this Division.................................................................... 227
210-10... When does this Division apply?...................................................... 227
210-15... When does an entity get an MRRT benefit from a scheme?............ 228
210-20... Matters to be considered in determining purpose............................ 229
Subdivision 210-B—Commissioner may negate effects of schemes for MRRT benefits 229
210-25... Commissioner may negate entity’s MRRT benefits........................ 230
210-30... Commissioner may compensate entity or another entity.................. 230
210-35... One determination may cover several MRRT years etc................... 231
210-40... Commissioner must give copy of determination to entity affected.. 232
Part 4-7—Entities 233
Division 215—Consolidated groups 233
Guide to Division 215 233
215-1..... What this Division is about............................................................. 233
Operative provisions 234
215-5..... Objects of this Division.................................................................. 234
215-10... Choice to consolidate for MRRT purposes..................................... 234
215-15... Single entity rule............................................................................. 235
215-20... Project interests transferred to head company etc. on joining.......... 236
215-25... Project interests transferred to leaving entity on leaving.................. 236
215-30... Mining project interests etc. split to leaving entity on leaving......... 237
215-35... Acquisition of consolidated group by another consolidated group etc. 237
215-40... Instalment rates for leaving entity or new head company................ 238
215-45... Effect of choice to continue group after shelf company becomes new head company 238
215-50... Effect of change of head company or provisional head company of a MEC group 239
215-55... Effect of group conversions involving MEC groups...................... 240
Division 220—Partnerships and unincorporated associations and bodies 242
Guide to Division 220 242
220-1..... What this Division is about............................................................. 242
Operative provisions 242
220-5..... Partnerships.................................................................................... 242
220-10... Unincorporated associations and bodies......................................... 243
Part 4-8—Miscellaneous 244
Division 225—Rehabilitation tax offsets 244
Guide to Division 225 244
225-1..... What this Division is about............................................................. 244
Operative provisions 244
225-5..... Object of this Division.................................................................... 244
225-10... Entitlement to rehabilitation tax offsets............................................ 244
225-15... Rehabilitation tax offset amounts relating to mining project interests 246
225-20... Rehabilitation tax offset amounts relating to pre-mining project interests 247
225-25... Application of rehabilitation tax offsets........................................... 248
Chapter 5—Miscellaneous 250
Division 235—Miscellaneous 250
235-1..... Regulations..................................................................................... 250
Chapter 6—Interpreting this Act 251
Part 6-1—Rules for interpreting this Act 251
Division 245—Rules for interpreting this Act 251
245-1..... What forms part of this Act............................................................. 251
245-5..... What does not form part of this Act................................................ 251
245-10... Guides and other non-operative provisions, and their role in interpreting this Act 251
Part 6-2—Meaning of some important concepts 253
Division 250—Meaning of hold 253
Guide to Division 250 253
250-1..... What this Division is about............................................................. 253
Operative provisions 253
250-5..... Meaning of hold .............................................................................. 253
250-10... When certain starting base assets are held....................................... 254
250-15... Things that are jointly held.............................................................. 254
Division 255—Integrated mining project interests 255
Guide to Division 255 255
255-1..... What this Division is about............................................................. 255
Operative provisions 255
255-5..... Upstream integration of mining project interests............................. 255
255-10... Downstream integration of mining project interests........................ 256
255-15... Meaning of downstream mining operations ................................... 256
255-20... Choice to integrate........................................................................... 257
Part 6-3—Dictionary 258
Division 300—Dictionary 258
300-1..... Dictionary....................................................................................... 258
A Bill for an Act about a minerals resource rent tax, and for related purposes
The Parliament of Australia enacts:
The Governor-General may make regulations prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.