Preliminary

sec.1 Short title

This regulation may be cited as the Mineral Resources (Royalty) Regulation 2025 .

sec.2 Commencement

This regulation commences on 1 September 2025.

sec.3 Definitions

The dictionary in schedule 2 defines particular words used in this regulation.

sec.4 Mining operation— Act , s 320

This section is made under section 320 (9) of the Act . For the purpose of calculating royalty payable under chapter 11 of the Act — the mining of minerals under 1 mining authority is taken to be 1 mining operation; and the mining of minerals under 2 or more mining authorities is taken to be 1 mining operation if— the mining authorities are held by the same person or by 2 or more persons who are relevant entities for each other; and any stage of the mining is carried out by using a common mining facility. (sec.4-ssec.1) This section is made under section 320 (9) of the Act . (sec.4-ssec.2) For the purpose of calculating royalty payable under chapter 11 of the Act — the mining of minerals under 1 mining authority is taken to be 1 mining operation; and the mining of minerals under 2 or more mining authorities is taken to be 1 mining operation if— the mining authorities are held by the same person or by 2 or more persons who are relevant entities for each other; and any stage of the mining is carried out by using a common mining facility.

• (a) the mining of minerals under 1 mining authority is taken to be 1 mining operation; and
• (b) the mining of minerals under 2 or more mining authorities is taken to be 1 mining operation if— (i) the mining authorities are held by the same person or by 2 or more persons who are relevant entities for each other; and (ii) any stage of the mining is carried out by using a common mining facility.
• (i) the mining authorities are held by the same person or by 2 or more persons who are relevant entities for each other; and
• (ii) any stage of the mining is carried out by using a common mining facility.
• (i) the mining authorities are held by the same person or by 2 or more persons who are relevant entities for each other; and
• (ii) any stage of the mining is carried out by using a common mining facility.

Royalty returns

sec.5 Purpose of part— Act , s 320

This part prescribes, for section 320 (4) of the Act , the requirements for royalty returns lodged under the Act .

sec.6 Lodgement with revenue commissioner

A royalty return must be lodged with the revenue commissioner.

sec.7 Form of royalty returns

A royalty return lodged under the Act must be in the approved form.

sec.8 Period to which royalty return must relate

A royalty return required under the Act to be lodged by a person must relate to a period of— if the mining operation to which the return relates is under 1 or more mining authorities, at least 1 of which is a mining lease—a calendar quarter; or otherwise—a financial year. However, if the revenue commissioner considers it appropriate having regard to the amount of royalty likely to be payable for a mining operation, the revenue commissioner may decide that— for a mining operation to which subsection (1) (a) applies—a royalty return must relate to a financial year; or for a mining operation to which subsection (1) (b) applies—a royalty return must relate to a calendar quarter. Also, at a person’s request or with a person’s agreement, the revenue commissioner may decide that, for a mining operation to which subsection (1) (b) applies, a royalty return required to be lodged by the person must relate to a calendar quarter. If the revenue commissioner makes a decision mentioned in subsection (2) (a) or (b) or (3) — the revenue commissioner must give notice (the notice ) of the decision to the person required to lodge the return; and the notice must state the day on which the decision is to take effect; and for subsection (2) (b) —the day stated in the notice can not be earlier than the day the revenue commissioner gives the person the notice unless the person agrees otherwise. The decision takes effect on the day stated in the notice. (sec.8-ssec.1) A royalty return required under the Act to be lodged by a person must relate to a period of— if the mining operation to which the return relates is under 1 or more mining authorities, at least 1 of which is a mining lease—a calendar quarter; or otherwise—a financial year. (sec.8-ssec.2) However, if the revenue commissioner considers it appropriate having regard to the amount of royalty likely to be payable for a mining operation, the revenue commissioner may decide that— for a mining operation to which subsection (1) (a) applies—a royalty return must relate to a financial year; or for a mining operation to which subsection (1) (b) applies—a royalty return must relate to a calendar quarter. (sec.8-ssec.3) Also, at a person’s request or with a person’s agreement, the revenue commissioner may decide that, for a mining operation to which subsection (1) (b) applies, a royalty return required to be lodged by the person must relate to a calendar quarter. (sec.8-ssec.4) If the revenue commissioner makes a decision mentioned in subsection (2) (a) or (b) or (3) — the revenue commissioner must give notice (the notice ) of the decision to the person required to lodge the return; and the notice must state the day on which the decision is to take effect; and for subsection (2) (b) —the day stated in the notice can not be earlier than the day the revenue commissioner gives the person the notice unless the person agrees otherwise. (sec.8-ssec.5) The decision takes effect on the day stated in the notice.

• (a) if the mining operation to which the return relates is under 1 or more mining authorities, at least 1 of which is a mining lease—a calendar quarter; or
• (b) otherwise—a financial year.
• (a) for a mining operation to which subsection (1) (a) applies—a royalty return must relate to a financial year; or
• (b) for a mining operation to which subsection (1) (b) applies—a royalty return must relate to a calendar quarter.
• (a) the revenue commissioner must give notice (the notice ) of the decision to the person required to lodge the return; and
• (b) the notice must state the day on which the decision is to take effect; and
• (c) for subsection (2) (b) —the day stated in the notice can not be earlier than the day the revenue commissioner gives the person the notice unless the person agrees otherwise.

sec.9 When royalty return must be lodged

This section applies subject to section 10 . A royalty return required under the Act to be lodged that relates to a financial year must be lodged within— 3 months after the day the year ended; or if the mining operation to which the return relates ends within the year—3 months after the day the operation ended. A royalty return required under the Act to be lodged that relates to a calendar quarter must be lodged on or before the last business day of the month after the day the quarter ended. Subsection (3) applies whether or not the mining operation to which the royalty return relates ends within the calendar quarter. (sec.9-ssec.1) This section applies subject to section 10 . (sec.9-ssec.2) A royalty return required under the Act to be lodged that relates to a financial year must be lodged within— 3 months after the day the year ended; or if the mining operation to which the return relates ends within the year—3 months after the day the operation ended. (sec.9-ssec.3) A royalty return required under the Act to be lodged that relates to a calendar quarter must be lodged on or before the last business day of the month after the day the quarter ended. (sec.9-ssec.4) Subsection (3) applies whether or not the mining operation to which the royalty return relates ends within the calendar quarter.

• (a) 3 months after the day the year ended; or
• (b) if the mining operation to which the return relates ends within the year—3 months after the day the operation ended.

sec.10 Revenue commissioner may require royalty return to be lodged on particular day

This section applies if the revenue commissioner considers that, for the protection of the public revenue, a royalty return should be lodged on a day that is earlier than the day by which the royalty return must be lodged under section 9 . The revenue commissioner may, by notice, require the person required under the Act to lodge the royalty return to lodge the royalty return on a stated day that is at least 7 days after the day the revenue commissioner gives the person the notice. (sec.10-ssec.1) This section applies if the revenue commissioner considers that, for the protection of the public revenue, a royalty return should be lodged on a day that is earlier than the day by which the royalty return must be lodged under section 9 . (sec.10-ssec.2) The revenue commissioner may, by notice, require the person required under the Act to lodge the royalty return to lodge the royalty return on a stated day that is at least 7 days after the day the revenue commissioner gives the person the notice.

sec.11 Fee for failing to lodge royalty return on time

If a person is required to lodge a royalty return and does not lodge the return by the day it is required to be lodged, the person must pay the prescribed fee. For the Taxation Administration Act 2001 , section 30 (1) (d) , the time by which the fee is payable is the day the assessment is made of the royalty payable for the period to which the return relates. The revenue commissioner may remit the whole or part of the fee. The remission must be made by assessment under the Taxation Administration Act 2001 . (sec.11-ssec.1) If a person is required to lodge a royalty return and does not lodge the return by the day it is required to be lodged, the person must pay the prescribed fee. (sec.11-ssec.2) For the Taxation Administration Act 2001 , section 30 (1) (d) , the time by which the fee is payable is the day the assessment is made of the royalty payable for the period to which the return relates. (sec.11-ssec.3) The revenue commissioner may remit the whole or part of the fee. (sec.11-ssec.4) The remission must be made by assessment under the Taxation Administration Act 2001 .

sec.12 No royalty return required in particular circumstances

No royalty return is required to be lodged for a return period if— the mining operation to which the return relates consists of mining minerals only under 1 or more mining claims; and no royalty is payable for the mining operation for the return period; and the mining operation did not end within the return period. However, subsection (1) does not apply in relation to the lodgement of a royalty return by a person if— under section 8 (2) (b) or (3) , the revenue commissioner has decided a royalty return required under the Act to be lodged by the person must relate to a calendar quarter; or the revenue commissioner gives the person a notice requiring the person to lodge a royalty return for the return period. The revenue commissioner may give a person a notice under subsection (2) (b) if the revenue commissioner considers that, for the protection of the public revenue, a royalty return should be lodged for the return period. (sec.12-ssec.1) No royalty return is required to be lodged for a return period if— the mining operation to which the return relates consists of mining minerals only under 1 or more mining claims; and no royalty is payable for the mining operation for the return period; and the mining operation did not end within the return period. (sec.12-ssec.2) However, subsection (1) does not apply in relation to the lodgement of a royalty return by a person if— under section 8 (2) (b) or (3) , the revenue commissioner has decided a royalty return required under the Act to be lodged by the person must relate to a calendar quarter; or the revenue commissioner gives the person a notice requiring the person to lodge a royalty return for the return period. (sec.12-ssec.3) The revenue commissioner may give a person a notice under subsection (2) (b) if the revenue commissioner considers that, for the protection of the public revenue, a royalty return should be lodged for the return period.

• (a) the mining operation to which the return relates consists of mining minerals only under 1 or more mining claims; and
• (b) no royalty is payable for the mining operation for the return period; and
• (c) the mining operation did not end within the return period.
• (a) under section 8 (2) (b) or (3) , the revenue commissioner has decided a royalty return required under the Act to be lodged by the person must relate to a calendar quarter; or
• (b) the revenue commissioner gives the person a notice requiring the person to lodge a royalty return for the return period.

sec.13 Returns required for coal seam gas

This section applies if a person is required under the Act to lodge a royalty return for royalty payable under the Act for coal seam gas. The person is not required to lodge a royalty return under this part for the coal seam gas. However, the person must lodge a royalty return for the royalty payable under the Act for coal seam gas under the Petroleum and Gas (Production and Safety) Act 2004 as if— the royalty payable under the Act for the coal seam gas were petroleum royalty payable under the Petroleum and Gas (Production and Safety) Act 2004 ; and the royalty return period under the Petroleum and Gas (Production and Safety) Act 2004 were the same as the return period under section 8 . A royalty return lodged under subsection (3) is taken to be a royalty return within the meaning of the Petroleum and Gas (Production and Safety) Act 2004 . To remove any doubt, it is declared that, for all rights, duties, obligations and liabilities arising in relation to royalty payable under the Act for coal seam gas required under this section to be included in a royalty return, the Petroleum and Gas (Production and Safety) Act 2004 applies as if the royalty payable under the Act were petroleum royalty payable under the Petroleum and Gas (Production and Safety) Act 2004 . (sec.13-ssec.1) This section applies if a person is required under the Act to lodge a royalty return for royalty payable under the Act for coal seam gas. (sec.13-ssec.2) The person is not required to lodge a royalty return under this part for the coal seam gas. (sec.13-ssec.3) However, the person must lodge a royalty return for the royalty payable under the Act for coal seam gas under the Petroleum and Gas (Production and Safety) Act 2004 as if— the royalty payable under the Act for the coal seam gas were petroleum royalty payable under the Petroleum and Gas (Production and Safety) Act 2004 ; and the royalty return period under the Petroleum and Gas (Production and Safety) Act 2004 were the same as the return period under section 8 . (sec.13-ssec.4) A royalty return lodged under subsection (3) is taken to be a royalty return within the meaning of the Petroleum and Gas (Production and Safety) Act 2004 . (sec.13-ssec.5) To remove any doubt, it is declared that, for all rights, duties, obligations and liabilities arising in relation to royalty payable under the Act for coal seam gas required under this section to be included in a royalty return, the Petroleum and Gas (Production and Safety) Act 2004 applies as if the royalty payable under the Act were petroleum royalty payable under the Petroleum and Gas (Production and Safety) Act 2004 .

• (a) the royalty payable under the Act for the coal seam gas were petroleum royalty payable under the Petroleum and Gas (Production and Safety) Act 2004 ; and
• (b) the royalty return period under the Petroleum and Gas (Production and Safety) Act 2004 were the same as the return period under section 8 .

Royalty payable for minerals

Royalty payable

sec.14 When royalty payable—yearly return period

Under the Taxation Administration Act 2001 , section 30 (1) , the royalty payable by a person under the Act for a return period that is a financial year is payable on the day the royalty return must be lodged for the return period.

sec.15 When royalty payable to person other than State—quarterly return period

This section applies to royalty payable under section 320 (3) (b) of the Act , to a person other than the State, for a return period that is a quarterly return period. The royalty is payable on the day the royalty return must be lodged for the return period. (sec.15-ssec.1) This section applies to royalty payable under section 320 (3) (b) of the Act , to a person other than the State, for a return period that is a quarterly return period. (sec.15-ssec.2) The royalty is payable on the day the royalty return must be lodged for the return period.

sec.16 When and how royalty payable—quarterly return period

Subject to sections 15 and 17 , the royalty payable by a person under the Act for a return period that is a quarterly return period is payable as follows— instalment 1 is payable on the last business day of the second month of the return period; instalment 2 is payable on the last business day of the third month of the return period; under the Taxation Administration Act 2001 , section 30 (1) (a) , instalment 3 is payable on the day a royalty return must be lodged for the return period. A person must lodge an approved form for a payment under subsection (1) when the payment is made. In this section— instalment 1 , for a quarterly return period, means— the amount payable by the person for the first month of the return period worked out under section 18 ; or if an election under section 20 (3) applies for the first month of the return period—the amount payable by the person for the first month worked out under section 20 (5) (a) . instalment 2 , for a quarterly return period, means— the amount payable by the person for the second month of the return period worked out under section 18 ; or if an election under section 20 (3) applies for the second month of the return period—the amount payable by the person for the second month worked out under section 20 (5) (b) . instalment 3 , for a quarterly return period, means— if the sum of instalment 1 and instalment 2 for the return period (the sum ) is less than the royalty payable by the person under the Act for the return period (the total royalty )—the amount of the total royalty less the sum; or otherwise—zero. (sec.16-ssec.1) Subject to sections 15 and 17 , the royalty payable by a person under the Act for a return period that is a quarterly return period is payable as follows— instalment 1 is payable on the last business day of the second month of the return period; instalment 2 is payable on the last business day of the third month of the return period; under the Taxation Administration Act 2001 , section 30 (1) (a) , instalment 3 is payable on the day a royalty return must be lodged for the return period. (sec.16-ssec.2) A person must lodge an approved form for a payment under subsection (1) when the payment is made. (sec.16-ssec.3) In this section— instalment 1 , for a quarterly return period, means— the amount payable by the person for the first month of the return period worked out under section 18 ; or if an election under section 20 (3) applies for the first month of the return period—the amount payable by the person for the first month worked out under section 20 (5) (a) . instalment 2 , for a quarterly return period, means— the amount payable by the person for the second month of the return period worked out under section 18 ; or if an election under section 20 (3) applies for the second month of the return period—the amount payable by the person for the second month worked out under section 20 (5) (b) . instalment 3 , for a quarterly return period, means— if the sum of instalment 1 and instalment 2 for the return period (the sum ) is less than the royalty payable by the person under the Act for the return period (the total royalty )—the amount of the total royalty less the sum; or otherwise—zero.

• (a) instalment 1 is payable on the last business day of the second month of the return period;
• (b) instalment 2 is payable on the last business day of the third month of the return period;
• (c) under the Taxation Administration Act 2001 , section 30 (1) (a) , instalment 3 is payable on the day a royalty return must be lodged for the return period.
• (a) the amount payable by the person for the first month of the return period worked out under section 18 ; or
• (b) if an election under section 20 (3) applies for the first month of the return period—the amount payable by the person for the first month worked out under section 20 (5) (a) .
• (a) the amount payable by the person for the second month of the return period worked out under section 18 ; or
• (b) if an election under section 20 (3) applies for the second month of the return period—the amount payable by the person for the second month worked out under section 20 (5) (b) .
• (a) if the sum of instalment 1 and instalment 2 for the return period (the sum ) is less than the royalty payable by the person under the Act for the return period (the total royalty )—the amount of the total royalty less the sum; or
• (b) otherwise—zero.

sec.17 Quarterly payment notice

If the revenue commissioner considers it appropriate, the revenue commissioner may, by notice (a quarterly payment notice ) given to a person, state that the day royalty is payable by the person for a quarterly return period is the day the royalty return must be lodged for the period instead of an earlier day under section 16 (1) (a) or (b) . A quarterly payment notice given to a person must state the period for which the notice applies. If the revenue commissioner considers it appropriate to do so, the revenue commissioner may, by notice, withdraw a quarterly payment notice. A withdrawal under subsection (3) takes effect from the start of the next return period after the end of the return period in which the notice of the withdrawal is given. (sec.17-ssec.1) If the revenue commissioner considers it appropriate, the revenue commissioner may, by notice (a quarterly payment notice ) given to a person, state that the day royalty is payable by the person for a quarterly return period is the day the royalty return must be lodged for the period instead of an earlier day under section 16 (1) (a) or (b) . (sec.17-ssec.2) A quarterly payment notice given to a person must state the period for which the notice applies. (sec.17-ssec.3) If the revenue commissioner considers it appropriate to do so, the revenue commissioner may, by notice, withdraw a quarterly payment notice. (sec.17-ssec.4) A withdrawal under subsection (3) takes effect from the start of the next return period after the end of the return period in which the notice of the withdrawal is given.

sec.18 Working out monthly payments for quarterly return period generally

This section prescribes, for section 16 (1) , the amounts payable by a person for the first and second months of a return period (the current return period ). See, however, section 20 . The amount payable by the person for each of the first and second months of the current return period is a third of the total amount of the royalty payable by the person under the Act for the previous return period— taking into account any assessment under the Taxation Administration Act 2001 for the royalty payable for the previous return period, made before the earlier of the following events happens— the amount for the first month of the current return period is paid; the amount for the first month of the current return period becomes payable; and disregarding any assessment under the Taxation Administration Act 2001 for the royalty payable for the previous return period, made when, or after, the earlier of the events mentioned in paragraph (a) happens. The royalty paid for the previous return period was $90,000. A reassessment for the previous return period was made by the revenue commissioner under the Taxation Administration Act 2001 to increase the royalty payable for the previous return period to $120,000. The reassessment was made before the amount payable for the first month of the return period is paid or becomes payable (whichever is the earlier). Accordingly, the amount payable under this section for the first month and second month of the return period is $40,000 (being a third of $120,000). (sec.18-ssec.1) This section prescribes, for section 16 (1) , the amounts payable by a person for the first and second months of a return period (the current return period ). See, however, section 20 . (sec.18-ssec.2) The amount payable by the person for each of the first and second months of the current return period is a third of the total amount of the royalty payable by the person under the Act for the previous return period— taking into account any assessment under the Taxation Administration Act 2001 for the royalty payable for the previous return period, made before the earlier of the following events happens— the amount for the first month of the current return period is paid; the amount for the first month of the current return period becomes payable; and disregarding any assessment under the Taxation Administration Act 2001 for the royalty payable for the previous return period, made when, or after, the earlier of the events mentioned in paragraph (a) happens. The royalty paid for the previous return period was $90,000. A reassessment for the previous return period was made by the revenue commissioner under the Taxation Administration Act 2001 to increase the royalty payable for the previous return period to $120,000. The reassessment was made before the amount payable for the first month of the return period is paid or becomes payable (whichever is the earlier). Accordingly, the amount payable under this section for the first month and second month of the return period is $40,000 (being a third of $120,000).

• (a) taking into account any assessment under the Taxation Administration Act 2001 for the royalty payable for the previous return period, made before the earlier of the following events happens— (i) the amount for the first month of the current return period is paid; (ii) the amount for the first month of the current return period becomes payable; and
• (i) the amount for the first month of the current return period is paid;
• (ii) the amount for the first month of the current return period becomes payable; and
• (b) disregarding any assessment under the Taxation Administration Act 2001 for the royalty payable for the previous return period, made when, or after, the earlier of the events mentioned in paragraph (a) happens.
• (i) the amount for the first month of the current return period is paid;
• (ii) the amount for the first month of the current return period becomes payable; and

sec.19 Working out monthly payments for quarterly return period in particular circumstances

This section applies if— an amount is payable by a person under section 18 (2) for the first and second months of a return period (the current return period ); and either— the person did not lodge a royalty return for the previous return period, as required under the Act ; or the previous return period was not a calendar quarter. For working out the amounts payable by the person under section 18 (2) — the revenue commissioner may— if subsection (1) (b) (i) applies—estimate the total amount of royalty payable by the person under the Act for the previous return period; or if subsection (1) (b) (ii) applies—adjust the amount of royalty payable by the person under the Act for the previous return period to estimate an amount representative of the royalty that would have been payable if the previous return period were a calendar quarter; and the revenue commissioner must give the person a notice stating the amount (the estimated amount ) estimated by the revenue commissioner under paragraph (a) (i) or (ii) ; and the estimated amount is the total amount of royalty payable by the person under the Act for the previous return period. In estimating an amount for subsection (2) (a) (i) or (ii) , the revenue commissioner may have regard to— any other royalty returns lodged by the person; and the size of the mining operation for which the royalty is payable; and any other relevant matter. (sec.19-ssec.1) This section applies if— an amount is payable by a person under section 18 (2) for the first and second months of a return period (the current return period ); and either— the person did not lodge a royalty return for the previous return period, as required under the Act ; or the previous return period was not a calendar quarter. (sec.19-ssec.2) For working out the amounts payable by the person under section 18 (2) — the revenue commissioner may— if subsection (1) (b) (i) applies—estimate the total amount of royalty payable by the person under the Act for the previous return period; or if subsection (1) (b) (ii) applies—adjust the amount of royalty payable by the person under the Act for the previous return period to estimate an amount representative of the royalty that would have been payable if the previous return period were a calendar quarter; and the revenue commissioner must give the person a notice stating the amount (the estimated amount ) estimated by the revenue commissioner under paragraph (a) (i) or (ii) ; and the estimated amount is the total amount of royalty payable by the person under the Act for the previous return period. (sec.19-ssec.3) In estimating an amount for subsection (2) (a) (i) or (ii) , the revenue commissioner may have regard to— any other royalty returns lodged by the person; and the size of the mining operation for which the royalty is payable; and any other relevant matter.

• (a) an amount is payable by a person under section 18 (2) for the first and second months of a return period (the current return period ); and
• (b) either— (i) the person did not lodge a royalty return for the previous return period, as required under the Act ; or (ii) the previous return period was not a calendar quarter.
• (i) the person did not lodge a royalty return for the previous return period, as required under the Act ; or
• (ii) the previous return period was not a calendar quarter.
• (i) the person did not lodge a royalty return for the previous return period, as required under the Act ; or
• (ii) the previous return period was not a calendar quarter.
• (a) the revenue commissioner may— (i) if subsection (1) (b) (i) applies—estimate the total amount of royalty payable by the person under the Act for the previous return period; or (ii) if subsection (1) (b) (ii) applies—adjust the amount of royalty payable by the person under the Act for the previous return period to estimate an amount representative of the royalty that would have been payable if the previous return period were a calendar quarter; and
• (i) if subsection (1) (b) (i) applies—estimate the total amount of royalty payable by the person under the Act for the previous return period; or
• (ii) if subsection (1) (b) (ii) applies—adjust the amount of royalty payable by the person under the Act for the previous return period to estimate an amount representative of the royalty that would have been payable if the previous return period were a calendar quarter; and
• (b) the revenue commissioner must give the person a notice stating the amount (the estimated amount ) estimated by the revenue commissioner under paragraph (a) (i) or (ii) ; and
• (c) the estimated amount is the total amount of royalty payable by the person under the Act for the previous return period.
• (i) if subsection (1) (b) (i) applies—estimate the total amount of royalty payable by the person under the Act for the previous return period; or
• (ii) if subsection (1) (b) (ii) applies—adjust the amount of royalty payable by the person under the Act for the previous return period to estimate an amount representative of the royalty that would have been payable if the previous return period were a calendar quarter; and
• (a) any other royalty returns lodged by the person; and
• (b) the size of the mining operation for which the royalty is payable; and
• (c) any other relevant matter.

sec.20 Election to change monthly payments for quarterly return period

This section applies if, at the relevant time— a person reasonably believes the amount of royalty payable by the person under the Act for a return period that is a quarterly return period (the current return period ) will be less than the royalty payable by the person under the Act for the previous return period; and the revenue commissioner has not given the person a notice under section 21 . The royalty payable by the person under the Act for the previous return period is the amount that, under section 18 or 19 , is the royalty payable by the person under the Act for the previous return period for section 18 (2) . The person may elect to change the amount payable for the first or second months of the current return period. The election must— be in the approved form; and state the amount of royalty the person reasonably believes will be payable by the person under the Act for the current return period; and unless the revenue commissioner, by giving notice to the person, approves another day for making the election—be lodged on or before— for an election for the first month of the current return period—the last business day of the second month of the return period; or for an election for the second month of the current return period—the last business day of the third month of the return period. Subject to subsection (6) — if the person makes an election under subsection (3) for the first month of the current return period, the amount payable for that month is a third of the amount mentioned in subsection (4) (b) for the election; or if the person makes an election under subsection (3) for the second month of the current return period, the amount payable for that month is a third of the amount mentioned in subsection (4) (b) for the election. The amount payable, as changed under subsection (3) for the first or second months of a return period, may be more than the amount payable under subsection (5) (a) or (b) . In this section— relevant time , for an election for the first month or the second month of a return period, means when the amount payable for the month becomes payable under section 16 . (sec.20-ssec.1) This section applies if, at the relevant time— a person reasonably believes the amount of royalty payable by the person under the Act for a return period that is a quarterly return period (the current return period ) will be less than the royalty payable by the person under the Act for the previous return period; and the revenue commissioner has not given the person a notice under section 21 . (sec.20-ssec.2) The royalty payable by the person under the Act for the previous return period is the amount that, under section 18 or 19 , is the royalty payable by the person under the Act for the previous return period for section 18 (2) . (sec.20-ssec.3) The person may elect to change the amount payable for the first or second months of the current return period. (sec.20-ssec.4) The election must— be in the approved form; and state the amount of royalty the person reasonably believes will be payable by the person under the Act for the current return period; and unless the revenue commissioner, by giving notice to the person, approves another day for making the election—be lodged on or before— for an election for the first month of the current return period—the last business day of the second month of the return period; or for an election for the second month of the current return period—the last business day of the third month of the return period. (sec.20-ssec.5) Subject to subsection (6) — if the person makes an election under subsection (3) for the first month of the current return period, the amount payable for that month is a third of the amount mentioned in subsection (4) (b) for the election; or if the person makes an election under subsection (3) for the second month of the current return period, the amount payable for that month is a third of the amount mentioned in subsection (4) (b) for the election. (sec.20-ssec.6) The amount payable, as changed under subsection (3) for the first or second months of a return period, may be more than the amount payable under subsection (5) (a) or (b) . (sec.20-ssec.7) In this section— relevant time , for an election for the first month or the second month of a return period, means when the amount payable for the month becomes payable under section 16 .

• (a) a person reasonably believes the amount of royalty payable by the person under the Act for a return period that is a quarterly return period (the current return period ) will be less than the royalty payable by the person under the Act for the previous return period; and
• (b) the revenue commissioner has not given the person a notice under section 21 .
• (a) be in the approved form; and
• (b) state the amount of royalty the person reasonably believes will be payable by the person under the Act for the current return period; and
• (c) unless the revenue commissioner, by giving notice to the person, approves another day for making the election—be lodged on or before— (i) for an election for the first month of the current return period—the last business day of the second month of the return period; or (ii) for an election for the second month of the current return period—the last business day of the third month of the return period.
• (i) for an election for the first month of the current return period—the last business day of the second month of the return period; or
• (ii) for an election for the second month of the current return period—the last business day of the third month of the return period.
• (i) for an election for the first month of the current return period—the last business day of the second month of the return period; or
• (ii) for an election for the second month of the current return period—the last business day of the third month of the return period.
• (a) if the person makes an election under subsection (3) for the first month of the current return period, the amount payable for that month is a third of the amount mentioned in subsection (4) (b) for the election; or
• (b) if the person makes an election under subsection (3) for the second month of the current return period, the amount payable for that month is a third of the amount mentioned in subsection (4) (b) for the election.

sec.21 Revenue commissioner may require royalty payable to be worked out under s 18

This section applies if— a person has previously made an election under section 20 (3) ; and the revenue commissioner considers the person did not have a reasonable basis for forming the belief mentioned in section 20 (1) (a) for the election. The revenue commissioner may give the person a notice stating that the amounts payable by the person for the first and second months of 1 or more return periods must be worked out under section 18 (2) . The person may not make an election under section 20 (3) for a return period to which the notice relates. (sec.21-ssec.1) This section applies if— a person has previously made an election under section 20 (3) ; and the revenue commissioner considers the person did not have a reasonable basis for forming the belief mentioned in section 20 (1) (a) for the election. (sec.21-ssec.2) The revenue commissioner may give the person a notice stating that the amounts payable by the person for the first and second months of 1 or more return periods must be worked out under section 18 (2) . (sec.21-ssec.3) The person may not make an election under section 20 (3) for a return period to which the notice relates.

• (a) a person has previously made an election under section 20 (3) ; and
• (b) the revenue commissioner considers the person did not have a reasonable basis for forming the belief mentioned in section 20 (1) (a) for the election.

sec.22 Royalty payable

Subject to section 23 , the royalty payable under the Act for all minerals, other than coal seam gas, sold, disposed of or used in a return period is payable at the following rate— for a prescribed mineral (royalty)—the royalty rate stated in schedule 1 , part 1 , section 2 ; otherwise—the royalty rate stated for the mineral in schedule 1 , part 2 . The royalty payable under the Act for coal seam gas produced in a return period is the royalty rate stated in schedule 1 , part 2 , section 7 . (sec.22-ssec.1) Subject to section 23 , the royalty payable under the Act for all minerals, other than coal seam gas, sold, disposed of or used in a return period is payable at the following rate— for a prescribed mineral (royalty)—the royalty rate stated in schedule 1 , part 1 , section 2 ; otherwise—the royalty rate stated for the mineral in schedule 1 , part 2 . (sec.22-ssec.2) The royalty payable under the Act for coal seam gas produced in a return period is the royalty rate stated in schedule 1 , part 2 , section 7 .

• (a) for a prescribed mineral (royalty)—the royalty rate stated in schedule 1 , part 1 , section 2 ;
• (b) otherwise—the royalty rate stated for the mineral in schedule 1 , part 2 .

sec.23 Particular royalties payable on adjustment basis

This section applies if— a prescribed mineral (royalty) or a relevant mineral is sold; and under the terms of the contract of sale of the mineral, the gross value (the actual gross value ) of the mineral under part 5 can not be finally worked out before the day the royalty return for the mineral is required to be lodged; and the revenue commissioner has not given a notice under subsection (5) to the holder for the mineral. The holder for the mineral must— when lodging the return mentioned in subsection (1) (b) , pay the amount of royalty (the provisional royalty ) for the mineral at the rate prescribed under section 22 , worked out on the basis of the assumed gross value for the mineral; and state, in the return (the subsequent return ) lodged for the period within which the actual gross value can be finally worked out, the amount that is the difference between— the amount (the actual royalty ) of the royalty for the mineral at the rate prescribed under section 22 , worked out on the basis of the actual gross value; and the provisional royalty. If the actual royalty is higher than the provisional royalty, the holder must pay the difference between the 2 amounts when the person lodges the subsequent return. If the actual royalty is less than the provisional royalty, the revenue commissioner must refund the amount that is the difference between the actual royalty and the provisional royalty under the Taxation Administration Act 2001 , part 4 , division 2 . If the revenue commissioner decides that this section does not apply for a particular holder or a particular sale of a mineral, the revenue commissioner must give the holder a notice stating that this section does not apply. In this section— assumed gross value , for a mineral, means the gross value of the mineral worked out under part 5 by reference to the information available for the return period relating to the return mentioned in subsection (2) (a) . relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium. (sec.23-ssec.1) This section applies if— a prescribed mineral (royalty) or a relevant mineral is sold; and under the terms of the contract of sale of the mineral, the gross value (the actual gross value ) of the mineral under part 5 can not be finally worked out before the day the royalty return for the mineral is required to be lodged; and the revenue commissioner has not given a notice under subsection (5) to the holder for the mineral. (sec.23-ssec.2) The holder for the mineral must— when lodging the return mentioned in subsection (1) (b) , pay the amount of royalty (the provisional royalty ) for the mineral at the rate prescribed under section 22 , worked out on the basis of the assumed gross value for the mineral; and state, in the return (the subsequent return ) lodged for the period within which the actual gross value can be finally worked out, the amount that is the difference between— the amount (the actual royalty ) of the royalty for the mineral at the rate prescribed under section 22 , worked out on the basis of the actual gross value; and the provisional royalty. (sec.23-ssec.3) If the actual royalty is higher than the provisional royalty, the holder must pay the difference between the 2 amounts when the person lodges the subsequent return. (sec.23-ssec.4) If the actual royalty is less than the provisional royalty, the revenue commissioner must refund the amount that is the difference between the actual royalty and the provisional royalty under the Taxation Administration Act 2001 , part 4 , division 2 . (sec.23-ssec.5) If the revenue commissioner decides that this section does not apply for a particular holder or a particular sale of a mineral, the revenue commissioner must give the holder a notice stating that this section does not apply. (sec.23-ssec.6) In this section— assumed gross value , for a mineral, means the gross value of the mineral worked out under part 5 by reference to the information available for the return period relating to the return mentioned in subsection (2) (a) . relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium.

• (a) a prescribed mineral (royalty) or a relevant mineral is sold; and
• (b) under the terms of the contract of sale of the mineral, the gross value (the actual gross value ) of the mineral under part 5 can not be finally worked out before the day the royalty return for the mineral is required to be lodged; and
• (c) the revenue commissioner has not given a notice under subsection (5) to the holder for the mineral.
• (a) when lodging the return mentioned in subsection (1) (b) , pay the amount of royalty (the provisional royalty ) for the mineral at the rate prescribed under section 22 , worked out on the basis of the assumed gross value for the mineral; and
• (b) state, in the return (the subsequent return ) lodged for the period within which the actual gross value can be finally worked out, the amount that is the difference between— (i) the amount (the actual royalty ) of the royalty for the mineral at the rate prescribed under section 22 , worked out on the basis of the actual gross value; and (ii) the provisional royalty.
• (i) the amount (the actual royalty ) of the royalty for the mineral at the rate prescribed under section 22 , worked out on the basis of the actual gross value; and
• (ii) the provisional royalty.
• (i) the amount (the actual royalty ) of the royalty for the mineral at the rate prescribed under section 22 , worked out on the basis of the actual gross value; and
• (ii) the provisional royalty.
• (a) iron ore;
• (b) manganese;
• (c) molybdenum;
• (d) tantalum;
• (e) tungsten;
• (f) uranium.

sec.24 Royalty on stocks of mineral for mining operation that has ended

This section applies if— a mining operation has ended; and there are minerals, other than coal seam gas, mined under the operation that have not been sold, disposed of or used; and the revenue commissioner reasonably believes the minerals mentioned in paragraph (b) will not be sold, disposed of or used within 1 year after the day the operation ended. The return for the return period in which the mining operation ended must include royalty for the minerals at the rate prescribed under section 22 . If any of the minerals is a mineral for which the royalty payable must be worked out by reference to the mineral’s value, the revenue commissioner must decide— the gross value of the mineral, worked out under part 5 as if the mineral had been sold, disposed of or used; and the value of the mineral, worked out under section 29 , as if the mineral had been sold, disposed of or used. (sec.24-ssec.1) This section applies if— a mining operation has ended; and there are minerals, other than coal seam gas, mined under the operation that have not been sold, disposed of or used; and the revenue commissioner reasonably believes the minerals mentioned in paragraph (b) will not be sold, disposed of or used within 1 year after the day the operation ended. (sec.24-ssec.2) The return for the return period in which the mining operation ended must include royalty for the minerals at the rate prescribed under section 22 . (sec.24-ssec.3) If any of the minerals is a mineral for which the royalty payable must be worked out by reference to the mineral’s value, the revenue commissioner must decide— the gross value of the mineral, worked out under part 5 as if the mineral had been sold, disposed of or used; and the value of the mineral, worked out under section 29 , as if the mineral had been sold, disposed of or used.

• (a) a mining operation has ended; and
• (b) there are minerals, other than coal seam gas, mined under the operation that have not been sold, disposed of or used; and
• (c) the revenue commissioner reasonably believes the minerals mentioned in paragraph (b) will not be sold, disposed of or used within 1 year after the day the operation ended.
• (a) the gross value of the mineral, worked out under part 5 as if the mineral had been sold, disposed of or used; and
• (b) the value of the mineral, worked out under section 29 , as if the mineral had been sold, disposed of or used.

Exemptions

sec.25 Exemption for coal seam gas

No royalty is payable for— coal seam gas that is— flared or vented; or mined under a mineral hydrocarbon mining lease, to the extent the coal seam gas is used for mining the coal that produced the gas; or mined under a mining lease under which underground mining of coal first started before 31 December 2004, to the extent the coal seam gas is used for mining under the lease; or incidental coal seam gas that is mined under a mining lease, to the extent the incidental coal seam gas is— used for mining coal under the mining lease; or if the mining lease is part of a mining operation—used for mining coal under any mining authority that is part of the mining operation on the day the incidental coal seam gas is used for mining the coal. In this section— mineral hydrocarbon mining lease see section 739 of the Act . used , for mining, means used by the holder of the lease or mining authority for— power generation for equipment used for the mining; or heating used for the mining. incidental coal seam gas stored or transported by the holder of the lease or mining authority to allow it to be used by the holder of the lease or mining authority for a purpose mentioned in paragraph (a) or (b) (sec.25-ssec.1) No royalty is payable for— coal seam gas that is— flared or vented; or mined under a mineral hydrocarbon mining lease, to the extent the coal seam gas is used for mining the coal that produced the gas; or mined under a mining lease under which underground mining of coal first started before 31 December 2004, to the extent the coal seam gas is used for mining under the lease; or incidental coal seam gas that is mined under a mining lease, to the extent the incidental coal seam gas is— used for mining coal under the mining lease; or if the mining lease is part of a mining operation—used for mining coal under any mining authority that is part of the mining operation on the day the incidental coal seam gas is used for mining the coal. (sec.25-ssec.2) In this section— mineral hydrocarbon mining lease see section 739 of the Act . used , for mining, means used by the holder of the lease or mining authority for— power generation for equipment used for the mining; or heating used for the mining. incidental coal seam gas stored or transported by the holder of the lease or mining authority to allow it to be used by the holder of the lease or mining authority for a purpose mentioned in paragraph (a) or (b)

• (a) coal seam gas that is— (i) flared or vented; or (ii) mined under a mineral hydrocarbon mining lease, to the extent the coal seam gas is used for mining the coal that produced the gas; or (iii) mined under a mining lease under which underground mining of coal first started before 31 December 2004, to the extent the coal seam gas is used for mining under the lease; or
• (i) flared or vented; or
• (ii) mined under a mineral hydrocarbon mining lease, to the extent the coal seam gas is used for mining the coal that produced the gas; or
• (iii) mined under a mining lease under which underground mining of coal first started before 31 December 2004, to the extent the coal seam gas is used for mining under the lease; or
• (b) incidental coal seam gas that is mined under a mining lease, to the extent the incidental coal seam gas is— (i) used for mining coal under the mining lease; or (ii) if the mining lease is part of a mining operation—used for mining coal under any mining authority that is part of the mining operation on the day the incidental coal seam gas is used for mining the coal.
• (i) used for mining coal under the mining lease; or
• (ii) if the mining lease is part of a mining operation—used for mining coal under any mining authority that is part of the mining operation on the day the incidental coal seam gas is used for mining the coal.
• (i) flared or vented; or
• (ii) mined under a mineral hydrocarbon mining lease, to the extent the coal seam gas is used for mining the coal that produced the gas; or
• (iii) mined under a mining lease under which underground mining of coal first started before 31 December 2004, to the extent the coal seam gas is used for mining under the lease; or
• (i) used for mining coal under the mining lease; or
• (ii) if the mining lease is part of a mining operation—used for mining coal under any mining authority that is part of the mining operation on the day the incidental coal seam gas is used for mining the coal.
• (a) power generation for equipment used for the mining; or
• (b) heating used for the mining.

sec.26 Threshold exemption for relevant minerals

No royalty is payable on the first $100,000 of the total value of a relevant mineral, mined under a mining operation, that is sold, disposed of or used in a financial year. If more than 1 relevant mineral mined under a mining operation is sold, disposed of or used in a financial year— the person by whom the royalty is payable under the Act for the minerals must nominate 1 of the minerals (the nominated mineral ); and no royalty is payable on the first $100,000 of the total value of the nominated mineral that is sold, disposed of or used in the financial year. However, if less than $100,000 of value of the nominated mineral is sold, disposed of or used in the financial year, the person may repeat the process under subsection (2) until the combined value of the relevant minerals nominated by the person and sold, disposed of or used in the financial year reaches $100,000. The nomination must be stated in the royalty return for the mineral lodged for the relevant return period. In this section— relevant mineral means any of the following— corundum; a gemstone; manganese; molybdenum; a precious stone; a prescribed mineral (royalty); a rare earth; tantalum; tungsten; uranium; a mineral mentioned in schedule 1 , part 2 , section 14 . relevant return period means the return period in which the threshold exemption is claimed for a relevant mineral for this section. (sec.26-ssec.1) No royalty is payable on the first $100,000 of the total value of a relevant mineral, mined under a mining operation, that is sold, disposed of or used in a financial year. (sec.26-ssec.2) If more than 1 relevant mineral mined under a mining operation is sold, disposed of or used in a financial year— the person by whom the royalty is payable under the Act for the minerals must nominate 1 of the minerals (the nominated mineral ); and no royalty is payable on the first $100,000 of the total value of the nominated mineral that is sold, disposed of or used in the financial year. (sec.26-ssec.3) However, if less than $100,000 of value of the nominated mineral is sold, disposed of or used in the financial year, the person may repeat the process under subsection (2) until the combined value of the relevant minerals nominated by the person and sold, disposed of or used in the financial year reaches $100,000. (sec.26-ssec.4) The nomination must be stated in the royalty return for the mineral lodged for the relevant return period. (sec.26-ssec.5) In this section— relevant mineral means any of the following— corundum; a gemstone; manganese; molybdenum; a precious stone; a prescribed mineral (royalty); a rare earth; tantalum; tungsten; uranium; a mineral mentioned in schedule 1 , part 2 , section 14 . relevant return period means the return period in which the threshold exemption is claimed for a relevant mineral for this section.

• (a) the person by whom the royalty is payable under the Act for the minerals must nominate 1 of the minerals (the nominated mineral ); and
• (b) no royalty is payable on the first $100,000 of the total value of the nominated mineral that is sold, disposed of or used in the financial year.
• (a) corundum;
• (b) a gemstone;
• (c) manganese;
• (d) molybdenum;
• (e) a precious stone;
• (f) a prescribed mineral (royalty);
• (g) a rare earth;
• (h) tantalum;
• (i) tungsten;
• (j) uranium;
• (k) a mineral mentioned in schedule 1 , part 2 , section 14 .

Discounts for particular minerals

sec.27 Particular minerals processed in Queensland

This section applies to royalty payable for a relevant mineral sold, disposed of or used if— the mineral is processed in the State; and after the mineral is processed, it has a metal content of— for cobalt—at least 50%; or for copper, iron ore, lead, tantalum and zinc—at least 95%; or for manganese—at least 75%; or for molybdenum—at least 56%; or for nickel—at least 70%; or for tungsten (WO 3 )—at least 89%. For subsection (1) , a mineral is processed if it is changed to another substance by a process, including, for example, leaching, refining, smelting and solvent extraction electro winning (SX–EW). The royalty payable for the relevant mineral is reduced by— for cobalt, copper, iron ore, molybdenum, nickel and tungsten—20%; or for lead—25%; or for manganese, tantalum and zinc—35%. In this section— relevant mineral means any of the following— cobalt; copper; iron ore; lead; manganese; molybdenum; nickel; tantalum; tungsten; zinc. (sec.27-ssec.1) This section applies to royalty payable for a relevant mineral sold, disposed of or used if— the mineral is processed in the State; and after the mineral is processed, it has a metal content of— for cobalt—at least 50%; or for copper, iron ore, lead, tantalum and zinc—at least 95%; or for manganese—at least 75%; or for molybdenum—at least 56%; or for nickel—at least 70%; or for tungsten (WO 3 )—at least 89%. (sec.27-ssec.2) For subsection (1) , a mineral is processed if it is changed to another substance by a process, including, for example, leaching, refining, smelting and solvent extraction electro winning (SX–EW). (sec.27-ssec.3) The royalty payable for the relevant mineral is reduced by— for cobalt, copper, iron ore, molybdenum, nickel and tungsten—20%; or for lead—25%; or for manganese, tantalum and zinc—35%. (sec.27-ssec.4) In this section— relevant mineral means any of the following— cobalt; copper; iron ore; lead; manganese; molybdenum; nickel; tantalum; tungsten; zinc.

• (a) the mineral is processed in the State; and
• (b) after the mineral is processed, it has a metal content of— (i) for cobalt—at least 50%; or (ii) for copper, iron ore, lead, tantalum and zinc—at least 95%; or (iii) for manganese—at least 75%; or (iv) for molybdenum—at least 56%; or (v) for nickel—at least 70%; or (vi) for tungsten (WO 3 )—at least 89%.
• (i) for cobalt—at least 50%; or
• (ii) for copper, iron ore, lead, tantalum and zinc—at least 95%; or
• (iii) for manganese—at least 75%; or
• (iv) for molybdenum—at least 56%; or
• (v) for nickel—at least 70%; or
• (vi) for tungsten (WO 3 )—at least 89%.
• (i) for cobalt—at least 50%; or
• (ii) for copper, iron ore, lead, tantalum and zinc—at least 95%; or
• (iii) for manganese—at least 75%; or
• (iv) for molybdenum—at least 56%; or
• (v) for nickel—at least 70%; or
• (vi) for tungsten (WO 3 )—at least 89%.
• (a) for cobalt, copper, iron ore, molybdenum, nickel and tungsten—20%; or
• (b) for lead—25%; or
• (c) for manganese, tantalum and zinc—35%.
• (a) cobalt;
• (b) copper;
• (c) iron ore;
• (d) lead;
• (e) manganese;
• (f) molybdenum;
• (g) nickel;
• (h) tantalum;
• (i) tungsten;
• (j) zinc.

Working out values of minerals

sec.28 Application of part

This part applies to a mineral for which, under part 3 , the royalty payable in relation to the mineral must be worked out by reference to the value of the mineral. See sections 22 to 24 and schedule 1 , part 2 .

sec.29 Value of minerals

Subject to subsection (3) , the value of a mineral must be worked out by— working out the gross value of the mineral under part 5 (the gross value ); and subtracting the following amounts from the gross value— any marine cost for the mineral; if the mineral is a prescribed mineral (royalty) or a relevant mineral—the amount the revenue commissioner has decided, on reasonable grounds, is the amount that should be subtracted from the gross value to allow for the loss of metal content in the processing of the mineral; any other cost the revenue commissioner has decided, on reasonable grounds, is a cost that should be subtracted from the gross value. However, if the mineral is coal, any amount relating to an early despatch of the coal from a port must be added to the gross value before the amounts mentioned in subsection (1) (b) are subtracted from the gross value. Also, in working out the value of a mineral that is sold— any increase in value as a result of a change in the exchange rate from the time the mineral was sold to the time any payment for the sale is received must be added to the value; and any decrease in value as a result of a change in the exchange rate from the time the mineral was sold to the time any payment for the sale is received must be subtracted from the value. In this section— marine cost means— for coal— a cost relating to a late despatch of the coal from a port; or a freight or an insurance cost relating to the transport of the coal by water to a port outside the State; or for another mineral—a freight or an insurance cost relating to the transport by water, to a port outside the State, of— the mineral; or if the mineral is oil shale that has been processed—the oil processed from the oil shale. relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium. (sec.29-ssec.1) Subject to subsection (3) , the value of a mineral must be worked out by— working out the gross value of the mineral under part 5 (the gross value ); and subtracting the following amounts from the gross value— any marine cost for the mineral; if the mineral is a prescribed mineral (royalty) or a relevant mineral—the amount the revenue commissioner has decided, on reasonable grounds, is the amount that should be subtracted from the gross value to allow for the loss of metal content in the processing of the mineral; any other cost the revenue commissioner has decided, on reasonable grounds, is a cost that should be subtracted from the gross value. (sec.29-ssec.2) However, if the mineral is coal, any amount relating to an early despatch of the coal from a port must be added to the gross value before the amounts mentioned in subsection (1) (b) are subtracted from the gross value. (sec.29-ssec.3) Also, in working out the value of a mineral that is sold— any increase in value as a result of a change in the exchange rate from the time the mineral was sold to the time any payment for the sale is received must be added to the value; and any decrease in value as a result of a change in the exchange rate from the time the mineral was sold to the time any payment for the sale is received must be subtracted from the value. (sec.29-ssec.4) In this section— marine cost means— for coal— a cost relating to a late despatch of the coal from a port; or a freight or an insurance cost relating to the transport of the coal by water to a port outside the State; or for another mineral—a freight or an insurance cost relating to the transport by water, to a port outside the State, of— the mineral; or if the mineral is oil shale that has been processed—the oil processed from the oil shale. relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium.

• (a) working out the gross value of the mineral under part 5 (the gross value ); and
• (b) subtracting the following amounts from the gross value— (i) any marine cost for the mineral; (ii) if the mineral is a prescribed mineral (royalty) or a relevant mineral—the amount the revenue commissioner has decided, on reasonable grounds, is the amount that should be subtracted from the gross value to allow for the loss of metal content in the processing of the mineral; (iii) any other cost the revenue commissioner has decided, on reasonable grounds, is a cost that should be subtracted from the gross value.
• (i) any marine cost for the mineral;
• (ii) if the mineral is a prescribed mineral (royalty) or a relevant mineral—the amount the revenue commissioner has decided, on reasonable grounds, is the amount that should be subtracted from the gross value to allow for the loss of metal content in the processing of the mineral;
• (iii) any other cost the revenue commissioner has decided, on reasonable grounds, is a cost that should be subtracted from the gross value.
• (i) any marine cost for the mineral;
• (ii) if the mineral is a prescribed mineral (royalty) or a relevant mineral—the amount the revenue commissioner has decided, on reasonable grounds, is the amount that should be subtracted from the gross value to allow for the loss of metal content in the processing of the mineral;
• (iii) any other cost the revenue commissioner has decided, on reasonable grounds, is a cost that should be subtracted from the gross value.
• (a) any increase in value as a result of a change in the exchange rate from the time the mineral was sold to the time any payment for the sale is received must be added to the value; and
• (b) any decrease in value as a result of a change in the exchange rate from the time the mineral was sold to the time any payment for the sale is received must be subtracted from the value.
• (a) for coal— (i) a cost relating to a late despatch of the coal from a port; or (ii) a freight or an insurance cost relating to the transport of the coal by water to a port outside the State; or
• (i) a cost relating to a late despatch of the coal from a port; or
• (ii) a freight or an insurance cost relating to the transport of the coal by water to a port outside the State; or
• (b) for another mineral—a freight or an insurance cost relating to the transport by water, to a port outside the State, of— (i) the mineral; or (ii) if the mineral is oil shale that has been processed—the oil processed from the oil shale.
• (i) the mineral; or
• (ii) if the mineral is oil shale that has been processed—the oil processed from the oil shale.
• (i) a cost relating to a late despatch of the coal from a port; or
• (ii) a freight or an insurance cost relating to the transport of the coal by water to a port outside the State; or
• (i) the mineral; or
• (ii) if the mineral is oil shale that has been processed—the oil processed from the oil shale.
• (a) iron ore;
• (b) manganese;
• (c) molybdenum;
• (d) tantalum;
• (e) tungsten;
• (f) uranium.

Working out gross values of minerals

Preliminary

sec.30 Application of part

This part applies to a mineral for which, under section 29 , the value of the mineral must be worked out by reference to its gross value.

sec.31 Definitions for part

In this part— average listed price , for a mineral, means a price worked out by averaging the prices listed for the mineral in a recognised listing over a particular period that— is at least 2 consecutive days and not more than 3 consecutive months; and includes the day on which the earliest of the following happened— the mineral was used; the mineral was disposed of; the mineral was delivered under a contract of sale. earlier return period means— in relation to a gross value royalty decision for a mineral—a return period for the mineral that occurs wholly or partly before the revenue commissioner makes the decision under section 38 ; or in relation to an amendment under section 43 of a gross value royalty decision for a mineral—a return period for the mineral that occurs wholly or partly before the revenue commissioner amends the decision under section 43 . gross value , of a mineral— for a mineral that is a market value mineral—see section 33 ; or for a mineral that is not a market value mineral—see section 34 . gross value royalty decision , for a mineral, means a decision made by the revenue commissioner under section 38 (2) in relation to the mineral. listed price , for a mineral, means the price listed for the mineral in a recognised listing at the time the mineral is sold, disposed of or used. market value mineral see section 32 . recognised listing means a list of quoted or published prices of minerals— on a recognised international mineral exchange or market; or London Metal Exchange, London Bullion Market by a price reporting agency recognised for quoting or publishing prices of minerals in an international market. Fastmarkets

• (a) is at least 2 consecutive days and not more than 3 consecutive months; and
• (b) includes the day on which the earliest of the following happened— (i) the mineral was used; (ii) the mineral was disposed of; (iii) the mineral was delivered under a contract of sale.
• (i) the mineral was used;
• (ii) the mineral was disposed of;
• (iii) the mineral was delivered under a contract of sale.
• (i) the mineral was used;
• (ii) the mineral was disposed of;
• (iii) the mineral was delivered under a contract of sale.
• (a) in relation to a gross value royalty decision for a mineral—a return period for the mineral that occurs wholly or partly before the revenue commissioner makes the decision under section 38 ; or
• (b) in relation to an amendment under section 43 of a gross value royalty decision for a mineral—a return period for the mineral that occurs wholly or partly before the revenue commissioner amends the decision under section 43 .
• (a) for a mineral that is a market value mineral—see section 33 ; or
• (b) for a mineral that is not a market value mineral—see section 34 .
• (a) on a recognised international mineral exchange or market; or Examples of recognised international mineral exchange or market— London Metal Exchange, London Bullion Market
• (b) by a price reporting agency recognised for quoting or publishing prices of minerals in an international market. Example of price reporting agency for paragraph (b) — Fastmarkets

Gross value of market value minerals

sec.32 Meaning of market value mineral

A mineral mined by the holder for the mineral is a market value mineral if— the mineral is sold at a listed price or an average listed price; or the mineral is disposed of or used and a market value for the mineral may be established by reference to a listed price, or an average listed price, for the mineral; or neither paragraph (a) nor (b) applies to the mineral and— the mineral is sold in an arms-length transaction to a person other than a relevant entity for the holder; and the holder has sold a mineral of the same kind in an arms-length transaction in the previous 2-year period to a person other than a relevant entity for the holder; or paragraphs (a) to (c) do not apply to the mineral and the holder entered into an agreement, before or as soon as practicable after the mineral was mined, to sell the mineral in an arms-length transaction to a person other than a relevant entity for the holder. However, a mineral mined by the holder for the mineral is not a market value mineral if— the mineral is sold or disposed of to, or used by, a relevant entity for the holder and the relevant entity is involved in the marketing or reselling of the mineral or in the production of a commodity using the mineral; or The holder mines coal and the coal is sold to a related body corporate for the holder, which sells the coal to another person in an arms-length transaction. The holder mines coal and the coal is used by a related body corporate for the holder to produce electricity in a power station. the mineral is sold or disposed of to, or used by, a person and the holder receives a non-financial benefit from the sale, disposal or use (whether or not the holder also receives a financial benefit from the sale, disposal or use). The holder sells coal to another person for a price but also receives goods from the other person in return for the coal. (sec.32-ssec.1) A mineral mined by the holder for the mineral is a market value mineral if— the mineral is sold at a listed price or an average listed price; or the mineral is disposed of or used and a market value for the mineral may be established by reference to a listed price, or an average listed price, for the mineral; or neither paragraph (a) nor (b) applies to the mineral and— the mineral is sold in an arms-length transaction to a person other than a relevant entity for the holder; and the holder has sold a mineral of the same kind in an arms-length transaction in the previous 2-year period to a person other than a relevant entity for the holder; or paragraphs (a) to (c) do not apply to the mineral and the holder entered into an agreement, before or as soon as practicable after the mineral was mined, to sell the mineral in an arms-length transaction to a person other than a relevant entity for the holder. (sec.32-ssec.2) However, a mineral mined by the holder for the mineral is not a market value mineral if— the mineral is sold or disposed of to, or used by, a relevant entity for the holder and the relevant entity is involved in the marketing or reselling of the mineral or in the production of a commodity using the mineral; or The holder mines coal and the coal is sold to a related body corporate for the holder, which sells the coal to another person in an arms-length transaction. The holder mines coal and the coal is used by a related body corporate for the holder to produce electricity in a power station. the mineral is sold or disposed of to, or used by, a person and the holder receives a non-financial benefit from the sale, disposal or use (whether or not the holder also receives a financial benefit from the sale, disposal or use). The holder sells coal to another person for a price but also receives goods from the other person in return for the coal.

• (a) the mineral is sold at a listed price or an average listed price; or
• (b) the mineral is disposed of or used and a market value for the mineral may be established by reference to a listed price, or an average listed price, for the mineral; or
• (c) neither paragraph (a) nor (b) applies to the mineral and— (i) the mineral is sold in an arms-length transaction to a person other than a relevant entity for the holder; and (ii) the holder has sold a mineral of the same kind in an arms-length transaction in the previous 2-year period to a person other than a relevant entity for the holder; or
• (i) the mineral is sold in an arms-length transaction to a person other than a relevant entity for the holder; and
• (ii) the holder has sold a mineral of the same kind in an arms-length transaction in the previous 2-year period to a person other than a relevant entity for the holder; or
• (d) paragraphs (a) to (c) do not apply to the mineral and the holder entered into an agreement, before or as soon as practicable after the mineral was mined, to sell the mineral in an arms-length transaction to a person other than a relevant entity for the holder.
• (i) the mineral is sold in an arms-length transaction to a person other than a relevant entity for the holder; and
• (ii) the holder has sold a mineral of the same kind in an arms-length transaction in the previous 2-year period to a person other than a relevant entity for the holder; or
• (a) the mineral is sold or disposed of to, or used by, a relevant entity for the holder and the relevant entity is involved in the marketing or reselling of the mineral or in the production of a commodity using the mineral; or Examples for paragraph (a) — 1 The holder mines coal and the coal is sold to a related body corporate for the holder, which sells the coal to another person in an arms-length transaction. 2 The holder mines coal and the coal is used by a related body corporate for the holder to produce electricity in a power station.
• 1 The holder mines coal and the coal is sold to a related body corporate for the holder, which sells the coal to another person in an arms-length transaction.
• 2 The holder mines coal and the coal is used by a related body corporate for the holder to produce electricity in a power station.
• (b) the mineral is sold or disposed of to, or used by, a person and the holder receives a non-financial benefit from the sale, disposal or use (whether or not the holder also receives a financial benefit from the sale, disposal or use). Example for paragraph (b) — The holder sells coal to another person for a price but also receives goods from the other person in return for the coal.
• 1 The holder mines coal and the coal is sold to a related body corporate for the holder, which sells the coal to another person in an arms-length transaction.
• 2 The holder mines coal and the coal is used by a related body corporate for the holder to produce electricity in a power station.

sec.33 Gross value of market value minerals

The gross value of a market value mineral that is a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) —the amount obtained for the mineral by selling it at the listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (c) or (d) —the amount for which the mineral is sold, disregarding any processing adjustment for the mineral. The gross value of a market value mineral other than a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) , (c) or (d) —the amount for which the mineral is sold; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or an average listed price, for the mineral. However, if a mineral is sold and an amount in relation to the royalty payable for the mineral is recovered from the buyer, the gross value of the mineral is the total of— the amount worked out under subsection (1) or (2) ; and the amount recovered. In this section— processing adjustment , for a mineral, means an adjustment to the sale price of the mineral, or the market value of the mineral, that relates to the post-sale or post-disposal processing of the mineral, including, for example the following— a treatment charge; a refining charge; a quantity adjustment for the loss of metal content; a penalty for the presence of deleterious elements. relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium. (sec.33-ssec.1) The gross value of a market value mineral that is a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) —the amount obtained for the mineral by selling it at the listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or if the mineral is a market value mineral under section 32 (1) (c) or (d) —the amount for which the mineral is sold, disregarding any processing adjustment for the mineral. (sec.33-ssec.2) The gross value of a market value mineral other than a prescribed mineral (royalty) or a relevant mineral is— if the mineral is a market value mineral under section 32 (1) (a) , (c) or (d) —the amount for which the mineral is sold; or if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or an average listed price, for the mineral. (sec.33-ssec.3) However, if a mineral is sold and an amount in relation to the royalty payable for the mineral is recovered from the buyer, the gross value of the mineral is the total of— the amount worked out under subsection (1) or (2) ; and the amount recovered. (sec.33-ssec.4) In this section— processing adjustment , for a mineral, means an adjustment to the sale price of the mineral, or the market value of the mineral, that relates to the post-sale or post-disposal processing of the mineral, including, for example the following— a treatment charge; a refining charge; a quantity adjustment for the loss of metal content; a penalty for the presence of deleterious elements. relevant mineral means any of the following— iron ore; manganese; molybdenum; tantalum; tungsten; uranium.

• (a) if the mineral is a market value mineral under section 32 (1) (a) —the amount obtained for the mineral by selling it at the listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or
• (b) if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or average listed price, for the mineral, disregarding any processing adjustment for the mineral; or
• (c) if the mineral is a market value mineral under section 32 (1) (c) or (d) —the amount for which the mineral is sold, disregarding any processing adjustment for the mineral.
• (a) if the mineral is a market value mineral under section 32 (1) (a) , (c) or (d) —the amount for which the mineral is sold; or
• (b) if the mineral is a market value mineral under section 32 (1) (b) —the market value established for the mineral by reference to a listed price, or an average listed price, for the mineral.
• (a) the amount worked out under subsection (1) or (2) ; and
• (b) the amount recovered.
• (a) a treatment charge;
• (b) a refining charge;
• (c) a quantity adjustment for the loss of metal content;
• (d) a penalty for the presence of deleterious elements.
• (a) iron ore;
• (b) manganese;
• (c) molybdenum;
• (d) tantalum;
• (e) tungsten;
• (f) uranium.

Gross value of minerals other than market value minerals

sec.34 Gross value of mineral other than market value mineral

If a mineral is not a market value mineral, the gross value of the mineral is— the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; or if the mineral is sold and an amount in relation to the royalty payable for the mineral is recovered from the buyer—the total of— the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; and the amount recovered. However, until the revenue commissioner makes a gross value royalty decision for the mineral, the gross value of the mineral is taken to be the amount included as the gross value of the mineral in the royalty return for the mineral. (sec.34-ssec.1) If a mineral is not a market value mineral, the gross value of the mineral is— the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; or if the mineral is sold and an amount in relation to the royalty payable for the mineral is recovered from the buyer—the total of— the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; and the amount recovered. (sec.34-ssec.2) However, until the revenue commissioner makes a gross value royalty decision for the mineral, the gross value of the mineral is taken to be the amount included as the gross value of the mineral in the royalty return for the mineral.

• (a) the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; or
• (b) if the mineral is sold and an amount in relation to the royalty payable for the mineral is recovered from the buyer—the total of— (i) the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; and (ii) the amount recovered.
• (i) the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; and
• (ii) the amount recovered.
• (i) the amount decided by the revenue commissioner in a gross value royalty decision for the mineral; and
• (ii) the amount recovered.

sec.35 Application for gross value royalty decision

This section applies to the holder for a mineral if, for a period— no gross value royalty decision applies for the mineral; and the mineral is not, or may not be, a market value mineral. Before, or as soon as practicable after, selling or disposing of or using the mineral, the holder must apply to the revenue commissioner for a gross value royalty decision for the mineral. Maximum penalty—20 penalty units. The application must— be in writing; and state why the holder is seeking the gross value royalty decision; and state a proposed gross value of the mineral, or a proposed method or formula for working out the gross value of the mineral, for 1 or more of the following— a particular transaction; a particular class of transaction; some or all transactions within a particular period; and a fixed value with adjustments in particular circumstances a formula for deciding the market value state the proposed period for which the gross value royalty decision is to apply. Without limiting subsection (3) (d) , the application may relate to 1 or more return periods, regardless of whether any of the return periods starts or ends before the application is made. (sec.35-ssec.1) This section applies to the holder for a mineral if, for a period— no gross value royalty decision applies for the mineral; and the mineral is not, or may not be, a market value mineral. (sec.35-ssec.2) Before, or as soon as practicable after, selling or disposing of or using the mineral, the holder must apply to the revenue commissioner for a gross value royalty decision for the mineral. Maximum penalty—20 penalty units. (sec.35-ssec.3) The application must— be in writing; and state why the holder is seeking the gross value royalty decision; and state a proposed gross value of the mineral, or a proposed method or formula for working out the gross value of the mineral, for 1 or more of the following— a particular transaction; a particular class of transaction; some or all transactions within a particular period; and a fixed value with adjustments in particular circumstances a formula for deciding the market value state the proposed period for which the gross value royalty decision is to apply. (sec.35-ssec.4) Without limiting subsection (3) (d) , the application may relate to 1 or more return periods, regardless of whether any of the return periods starts or ends before the application is made.

• (a) no gross value royalty decision applies for the mineral; and
• (b) the mineral is not, or may not be, a market value mineral.
• (a) be in writing; and
• (b) state why the holder is seeking the gross value royalty decision; and
• (c) state a proposed gross value of the mineral, or a proposed method or formula for working out the gross value of the mineral, for 1 or more of the following— (i) a particular transaction; (ii) a particular class of transaction; (iii) some or all transactions within a particular period; and Examples of a method or formula for working out the gross value of a mineral— • a fixed value with adjustments in particular circumstances • a formula for deciding the market value
• (i) a particular transaction;
• (ii) a particular class of transaction;
• (iii) some or all transactions within a particular period; and
• • a fixed value with adjustments in particular circumstances
• • a formula for deciding the market value
• (d) state the proposed period for which the gross value royalty decision is to apply.
• (i) a particular transaction;
• (ii) a particular class of transaction;
• (iii) some or all transactions within a particular period; and
• • a fixed value with adjustments in particular circumstances
• • a formula for deciding the market value

sec.36 Gross value royalty decision on revenue commissioner’s own initiative

The revenue commissioner may, on the revenue commissioner’s own initiative, make a gross value royalty decision for a mineral if, for a period— the revenue commissioner reasonably believes the mineral is not, or may not be, a market value mineral; and the holder for the mineral has not applied under section 35 for a gross value royalty decision for the mineral. Subsection (1) (a) applies whether or not either or both of the following have happened— a transaction relating to the mineral; the lodgement of a royalty return for the period. If the revenue commissioner proposes to make a gross value royalty decision for a mineral on the revenue commissioner’s own initiative, the revenue commissioner must— give a notice to the holder for the mineral stating that the revenue commissioner proposes to make the decision; and invite the holder to make submissions about the proposed decision within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period. (sec.36-ssec.1) The revenue commissioner may, on the revenue commissioner’s own initiative, make a gross value royalty decision for a mineral if, for a period— the revenue commissioner reasonably believes the mineral is not, or may not be, a market value mineral; and the holder for the mineral has not applied under section 35 for a gross value royalty decision for the mineral. (sec.36-ssec.2) Subsection (1) (a) applies whether or not either or both of the following have happened— a transaction relating to the mineral; the lodgement of a royalty return for the period. (sec.36-ssec.3) If the revenue commissioner proposes to make a gross value royalty decision for a mineral on the revenue commissioner’s own initiative, the revenue commissioner must— give a notice to the holder for the mineral stating that the revenue commissioner proposes to make the decision; and invite the holder to make submissions about the proposed decision within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period.

• (a) the revenue commissioner reasonably believes the mineral is not, or may not be, a market value mineral; and
• (b) the holder for the mineral has not applied under section 35 for a gross value royalty decision for the mineral.
• (a) a transaction relating to the mineral;
• (b) the lodgement of a royalty return for the period.
• (a) give a notice to the holder for the mineral stating that the revenue commissioner proposes to make the decision; and
• (b) invite the holder to make submissions about the proposed decision within— (i) 30 days after the day the revenue commissioner gives the holder the notice; or (ii) if the revenue commissioner approves a longer period—the longer period.
• (i) 30 days after the day the revenue commissioner gives the holder the notice; or
• (ii) if the revenue commissioner approves a longer period—the longer period.
• (i) 30 days after the day the revenue commissioner gives the holder the notice; or
• (ii) if the revenue commissioner approves a longer period—the longer period.

sec.37 Considerations in making gross value royalty decision

In making a gross value royalty decision for a mineral (the relevant mineral ), the revenue commissioner— must consider— if the holder for the relevant mineral applied for the decision under section 35 —the matters stated in the holder’s application; or if the revenue commissioner gave the holder a notice under section 36 (3) (a) —any submissions about the proposed decision made by the holder within the period mentioned in section 36 (3) (b) for the submissions; and may consider any document or information the revenue commissioner reasonably considers relevant for making the decision; and may also consider any of the following matters— the amount for which a mineral of a similar kind to the relevant mineral has been sold or disposed of in an arms-length transaction to a person other than a relevant entity for the holder; the amount for which a product made using the relevant mineral, or a mineral of a similar kind, has been sold or disposed of; how the value of the relevant mineral can be adjusted to reflect changes to the market value of the mineral; the expenses incurred or likely to be incurred by the holder for the relevant mineral when selling or disposing of the mineral in an arms-length transaction to a person other than a relevant entity for the holder; the nature of the relationship between the holder for the relevant mineral and the entity to which the relevant mineral has been or will be sold or disposed of, or that has used or will use the mineral; the period for which the gross value royalty decision, or aspects of the decision, will apply; the need for any future adjustment of the gross value royalty decision or aspects of the decision; any other relevant matter.

• (a) must consider— (i) if the holder for the relevant mineral applied for the decision under section 35 —the matters stated in the holder’s application; or (ii) if the revenue commissioner gave the holder a notice under section 36 (3) (a) —any submissions about the proposed decision made by the holder within the period mentioned in section 36 (3) (b) for the submissions; and
• (i) if the holder for the relevant mineral applied for the decision under section 35 —the matters stated in the holder’s application; or
• (ii) if the revenue commissioner gave the holder a notice under section 36 (3) (a) —any submissions about the proposed decision made by the holder within the period mentioned in section 36 (3) (b) for the submissions; and
• (b) may consider any document or information the revenue commissioner reasonably considers relevant for making the decision; and
• (c) may also consider any of the following matters— (i) the amount for which a mineral of a similar kind to the relevant mineral has been sold or disposed of in an arms-length transaction to a person other than a relevant entity for the holder; (ii) the amount for which a product made using the relevant mineral, or a mineral of a similar kind, has been sold or disposed of; (iii) how the value of the relevant mineral can be adjusted to reflect changes to the market value of the mineral; (iv) the expenses incurred or likely to be incurred by the holder for the relevant mineral when selling or disposing of the mineral in an arms-length transaction to a person other than a relevant entity for the holder; (v) the nature of the relationship between the holder for the relevant mineral and the entity to which the relevant mineral has been or will be sold or disposed of, or that has used or will use the mineral; (vi) the period for which the gross value royalty decision, or aspects of the decision, will apply; (vii) the need for any future adjustment of the gross value royalty decision or aspects of the decision; (viii) any other relevant matter.
• (i) the amount for which a mineral of a similar kind to the relevant mineral has been sold or disposed of in an arms-length transaction to a person other than a relevant entity for the holder;
• (ii) the amount for which a product made using the relevant mineral, or a mineral of a similar kind, has been sold or disposed of;
• (iii) how the value of the relevant mineral can be adjusted to reflect changes to the market value of the mineral;
• (iv) the expenses incurred or likely to be incurred by the holder for the relevant mineral when selling or disposing of the mineral in an arms-length transaction to a person other than a relevant entity for the holder;
• (v) the nature of the relationship between the holder for the relevant mineral and the entity to which the relevant mineral has been or will be sold or disposed of, or that has used or will use the mineral;
• (vi) the period for which the gross value royalty decision, or aspects of the decision, will apply;
• (vii) the need for any future adjustment of the gross value royalty decision or aspects of the decision;
• (viii) any other relevant matter.
• (i) if the holder for the relevant mineral applied for the decision under section 35 —the matters stated in the holder’s application; or
• (ii) if the revenue commissioner gave the holder a notice under section 36 (3) (a) —any submissions about the proposed decision made by the holder within the period mentioned in section 36 (3) (b) for the submissions; and
• (i) the amount for which a mineral of a similar kind to the relevant mineral has been sold or disposed of in an arms-length transaction to a person other than a relevant entity for the holder;
• (ii) the amount for which a product made using the relevant mineral, or a mineral of a similar kind, has been sold or disposed of;
• (iii) how the value of the relevant mineral can be adjusted to reflect changes to the market value of the mineral;
• (iv) the expenses incurred or likely to be incurred by the holder for the relevant mineral when selling or disposing of the mineral in an arms-length transaction to a person other than a relevant entity for the holder;
• (v) the nature of the relationship between the holder for the relevant mineral and the entity to which the relevant mineral has been or will be sold or disposed of, or that has used or will use the mineral;
• (vi) the period for which the gross value royalty decision, or aspects of the decision, will apply;
• (vii) the need for any future adjustment of the gross value royalty decision or aspects of the decision;
• (viii) any other relevant matter.

sec.38 Gross value royalty decision

This section applies if the revenue commissioner— receives an application under section 35 for a gross value royalty decision for a mineral; or decides under section 36 on the revenue commissioner’s own initiative to make a gross value royalty decision for a mineral. The revenue commissioner must decide— the gross value of the mineral; or the method or formula for working out the gross value of the mineral. Without limiting the scope of a gross value royalty decision, a gross value royalty decision may— apply for a particular period, including, for example, an earlier return period starting or ending before the decision is made; and provide for different gross values for the mineral to which the decision applies for particular periods, transactions or classes of transactions; and provide for different methods or formulas for working out the gross values of the mineral for particular periods, transactions or classes of transactions. Subsection (5) applies if the holder for a mineral applies under section 35 for a gross value royalty decision for the mineral. To remove any doubt, it is declared that the revenue commissioner may decide the gross value of the mineral, the method or formula for working out the gross value of the mineral or the period, transaction or class of transaction for which the decision applies (each a relevant matter ), even if— the relevant matter is not stated in the holder’s application; or the way in which the relevant matter is stated in the holder’s application is different from the way in which the relevant matter is stated in the decision. After making a gross value royalty decision for a mineral, the revenue commissioner must give the holder for the mineral a notice stating— the reasons for the decision; and either— the gross value of the mineral; or the method or formula for working out the gross value of the mineral; and if the decision applies for a period—the period; and if the decision applies for a particular transaction or class of transaction—the transaction or class; and if the decision applies for an earlier return period—whether, subject to section 45 , the revenue commissioner will assess or reassess the amount of royalty payable for the earlier return period; and For reassessment of royalty payable, see subdivision 4 and the Taxation Administration Act 2001 , part 3 , division 3 . how the holder may object to the decision. For objections against gross value royalty decisions, see the Taxation Administration Act 2001 , section 63A . Despite section 34 , the revenue commissioner can not be compelled to make a gross value royalty decision for a mineral for a return period, to the extent the decision would decrease the gross value taken to apply for the mineral, if royalty was payable for the return period. For the Taxation Administration Act 2001 , section 75 , a decision of the revenue commissioner not to make a gross value royalty decision mentioned in subsection (7) is declared to be a non-reviewable decision. (sec.38-ssec.1) This section applies if the revenue commissioner— receives an application under section 35 for a gross value royalty decision for a mineral; or decides under section 36 on the revenue commissioner’s own initiative to make a gross value royalty decision for a mineral. (sec.38-ssec.2) The revenue commissioner must decide— the gross value of the mineral; or the method or formula for working out the gross value of the mineral. (sec.38-ssec.3) Without limiting the scope of a gross value royalty decision, a gross value royalty decision may— apply for a particular period, including, for example, an earlier return period starting or ending before the decision is made; and provide for different gross values for the mineral to which the decision applies for particular periods, transactions or classes of transactions; and provide for different methods or formulas for working out the gross values of the mineral for particular periods, transactions or classes of transactions. (sec.38-ssec.4) Subsection (5) applies if the holder for a mineral applies under section 35 for a gross value royalty decision for the mineral. (sec.38-ssec.5) To remove any doubt, it is declared that the revenue commissioner may decide the gross value of the mineral, the method or formula for working out the gross value of the mineral or the period, transaction or class of transaction for which the decision applies (each a relevant matter ), even if— the relevant matter is not stated in the holder’s application; or the way in which the relevant matter is stated in the holder’s application is different from the way in which the relevant matter is stated in the decision. (sec.38-ssec.6) After making a gross value royalty decision for a mineral, the revenue commissioner must give the holder for the mineral a notice stating— the reasons for the decision; and either— the gross value of the mineral; or the method or formula for working out the gross value of the mineral; and if the decision applies for a period—the period; and if the decision applies for a particular transaction or class of transaction—the transaction or class; and if the decision applies for an earlier return period—whether, subject to section 45 , the revenue commissioner will assess or reassess the amount of royalty payable for the earlier return period; and For reassessment of royalty payable, see subdivision 4 and the Taxation Administration Act 2001 , part 3 , division 3 . how the holder may object to the decision. For objections against gross value royalty decisions, see the Taxation Administration Act 2001 , section 63A . (sec.38-ssec.7) Despite section 34 , the revenue commissioner can not be compelled to make a gross value royalty decision for a mineral for a return period, to the extent the decision would decrease the gross value taken to apply for the mineral, if royalty was payable for the return period. (sec.38-ssec.8) For the Taxation Administration Act 2001 , section 75 , a decision of the revenue commissioner not to make a gross value royalty decision mentioned in subsection (7) is declared to be a non-reviewable decision.

• (a) receives an application under section 35 for a gross value royalty decision for a mineral; or
• (b) decides under section 36 on the revenue commissioner’s own initiative to make a gross value royalty decision for a mineral.
• (a) the gross value of the mineral; or
• (b) the method or formula for working out the gross value of the mineral.
• (a) apply for a particular period, including, for example, an earlier return period starting or ending before the decision is made; and
• (b) provide for different gross values for the mineral to which the decision applies for particular periods, transactions or classes of transactions; and
• (c) provide for different methods or formulas for working out the gross values of the mineral for particular periods, transactions or classes of transactions.
• (a) the relevant matter is not stated in the holder’s application; or
• (b) the way in which the relevant matter is stated in the holder’s application is different from the way in which the relevant matter is stated in the decision.
• (a) the reasons for the decision; and
• (b) either— (i) the gross value of the mineral; or (ii) the method or formula for working out the gross value of the mineral; and
• (i) the gross value of the mineral; or
• (ii) the method or formula for working out the gross value of the mineral; and
• (c) if the decision applies for a period—the period; and
• (d) if the decision applies for a particular transaction or class of transaction—the transaction or class; and
• (e) if the decision applies for an earlier return period—whether, subject to section 45 , the revenue commissioner will assess or reassess the amount of royalty payable for the earlier return period; and Note— For reassessment of royalty payable, see subdivision 4 and the Taxation Administration Act 2001 , part 3 , division 3 .
• (f) how the holder may object to the decision. Note— For objections against gross value royalty decisions, see the Taxation Administration Act 2001 , section 63A .
• (i) the gross value of the mineral; or
• (ii) the method or formula for working out the gross value of the mineral; and

sec.39 Reference to gross value royalty decision for working out average price of particular minerals

This section applies if a gross value royalty decision applies for a relevant mineral for a return period. For part 3 , the average price for each tonne or kilogram of the relevant mineral sold, disposed of or used in the return period must be worked out by reference to— the gross value of the mineral under the gross value royalty decision; or the method or formula for working out the gross value of the mineral under the decision. In this section— relevant mineral means coal, iron ore or uranium. (sec.39-ssec.1) This section applies if a gross value royalty decision applies for a relevant mineral for a return period. (sec.39-ssec.2) For part 3 , the average price for each tonne or kilogram of the relevant mineral sold, disposed of or used in the return period must be worked out by reference to— the gross value of the mineral under the gross value royalty decision; or the method or formula for working out the gross value of the mineral under the decision. (sec.39-ssec.3) In this section— relevant mineral means coal, iron ore or uranium.

• (a) the gross value of the mineral under the gross value royalty decision; or
• (b) the method or formula for working out the gross value of the mineral under the decision.

sec.40 Use of expired gross value royalty decision

This section applies if— a gross value royalty decision for a mineral (the original decision ) states that the decision applies for a particular period; and before the period ends (the expiry )— the holder for the mineral applies under section 35 for a gross value royalty decision for the mineral (the new decision ) proposed to take effect immediately after the expiry; or the revenue commissioner, under section 36 (3) , gives the holder for the mineral a notice stating that the revenue commissioner proposes to make a gross value royalty decision for the mineral (also the new decision ) to take effect immediately after the expiry; and on the expiry, the revenue commissioner has not made the new decision. For a mineral sold, disposed of or used by the holder for the mineral during the period starting immediately after the expiry and ending when a notice for the new decision is given to the holder under section 38 (6) — the holder, in complying with the holder’s obligations under the Act , must— work out the gross value of the mineral as if the original decision applies to the mineral for the period; and if the mineral is a relevant mineral—work out the average price as required under section 39 as if the original decision applies to the relevant mineral for the period; and the revenue commissioner must make any assessment of the amount of royalty payable for the mineral as if the original decision applies to the mineral for the period. This section applies subject to section 41 . In this section— relevant mineral means coal, iron ore or uranium. (sec.40-ssec.1) This section applies if— a gross value royalty decision for a mineral (the original decision ) states that the decision applies for a particular period; and before the period ends (the expiry )— the holder for the mineral applies under section 35 for a gross value royalty decision for the mineral (the new decision ) proposed to take effect immediately after the expiry; or the revenue commissioner, under section 36 (3) , gives the holder for the mineral a notice stating that the revenue commissioner proposes to make a gross value royalty decision for the mineral (also the new decision ) to take effect immediately after the expiry; and on the expiry, the revenue commissioner has not made the new decision. (sec.40-ssec.2) For a mineral sold, disposed of or used by the holder for the mineral during the period starting immediately after the expiry and ending when a notice for the new decision is given to the holder under section 38 (6) — the holder, in complying with the holder’s obligations under the Act , must— work out the gross value of the mineral as if the original decision applies to the mineral for the period; and if the mineral is a relevant mineral—work out the average price as required under section 39 as if the original decision applies to the relevant mineral for the period; and the revenue commissioner must make any assessment of the amount of royalty payable for the mineral as if the original decision applies to the mineral for the period. (sec.40-ssec.3) This section applies subject to section 41 . (sec.40-ssec.4) In this section— relevant mineral means coal, iron ore or uranium.

• (a) a gross value royalty decision for a mineral (the original decision ) states that the decision applies for a particular period; and
• (b) before the period ends (the expiry )— (i) the holder for the mineral applies under section 35 for a gross value royalty decision for the mineral (the new decision ) proposed to take effect immediately after the expiry; or (ii) the revenue commissioner, under section 36 (3) , gives the holder for the mineral a notice stating that the revenue commissioner proposes to make a gross value royalty decision for the mineral (also the new decision ) to take effect immediately after the expiry; and
• (i) the holder for the mineral applies under section 35 for a gross value royalty decision for the mineral (the new decision ) proposed to take effect immediately after the expiry; or
• (ii) the revenue commissioner, under section 36 (3) , gives the holder for the mineral a notice stating that the revenue commissioner proposes to make a gross value royalty decision for the mineral (also the new decision ) to take effect immediately after the expiry; and
• (c) on the expiry, the revenue commissioner has not made the new decision.
• (i) the holder for the mineral applies under section 35 for a gross value royalty decision for the mineral (the new decision ) proposed to take effect immediately after the expiry; or
• (ii) the revenue commissioner, under section 36 (3) , gives the holder for the mineral a notice stating that the revenue commissioner proposes to make a gross value royalty decision for the mineral (also the new decision ) to take effect immediately after the expiry; and
• (a) the holder, in complying with the holder’s obligations under the Act , must— (i) work out the gross value of the mineral as if the original decision applies to the mineral for the period; and (ii) if the mineral is a relevant mineral—work out the average price as required under section 39 as if the original decision applies to the relevant mineral for the period; and
• (i) work out the gross value of the mineral as if the original decision applies to the mineral for the period; and
• (ii) if the mineral is a relevant mineral—work out the average price as required under section 39 as if the original decision applies to the relevant mineral for the period; and
• (b) the revenue commissioner must make any assessment of the amount of royalty payable for the mineral as if the original decision applies to the mineral for the period.
• (i) work out the gross value of the mineral as if the original decision applies to the mineral for the period; and
• (ii) if the mineral is a relevant mineral—work out the average price as required under section 39 as if the original decision applies to the relevant mineral for the period; and

sec.41 When revenue commissioner must reassess amount of royalty payable

This section applies if— the revenue commissioner makes the new decision mentioned in section 40 (1) ; and the new decision applies for a return period starting during the period mentioned in section 40 (2) ; and the revenue commissioner has made an assessment under the Taxation Administration Act 2001 of the amount of royalty payable by the holder for the mineral for the return period without having regard to the new decision. The revenue commissioner must reassess, under the Taxation Administration Act 2001 , the amount of royalty payable by the holder for the mineral for the return period having regard to the new decision. See the Taxation Administration Act 2001 , part 4 , division 2 for the revenue commissioner’s obligation to refund any excess amount on the making of the reassessment. For the Taxation Administration Act 2001 , section 23 (b) (ii) , it is declared that the limitation period does not apply to the making of the reassessment. Subsection (5) applies if, on the reassessment, the holder for the mineral is liable for penalty tax, unpaid tax interest or a civil penalty (each a relevant liability ). The revenue commissioner must remit the relevant liability to the extent it is payable only because of the operation of subsection (2) . (sec.41-ssec.1) This section applies if— the revenue commissioner makes the new decision mentioned in section 40 (1) ; and the new decision applies for a return period starting during the period mentioned in section 40 (2) ; and the revenue commissioner has made an assessment under the Taxation Administration Act 2001 of the amount of royalty payable by the holder for the mineral for the return period without having regard to the new decision. (sec.41-ssec.2) The revenue commissioner must reassess, under the Taxation Administration Act 2001 , the amount of royalty payable by the holder for the mineral for the return period having regard to the new decision. See the Taxation Administration Act 2001 , part 4 , division 2 for the revenue commissioner’s obligation to refund any excess amount on the making of the reassessment. (sec.41-ssec.3) For the Taxation Administration Act 2001 , section 23 (b) (ii) , it is declared that the limitation period does not apply to the making of the reassessment. (sec.41-ssec.4) Subsection (5) applies if, on the reassessment, the holder for the mineral is liable for penalty tax, unpaid tax interest or a civil penalty (each a relevant liability ). (sec.41-ssec.5) The revenue commissioner must remit the relevant liability to the extent it is payable only because of the operation of subsection (2) .

• (a) the revenue commissioner makes the new decision mentioned in section 40 (1) ; and
• (b) the new decision applies for a return period starting during the period mentioned in section 40 (2) ; and
• (c) the revenue commissioner has made an assessment under the Taxation Administration Act 2001 of the amount of royalty payable by the holder for the mineral for the return period without having regard to the new decision.

sec.42 Obligation to notify incorrect gross value royalty decision

This section applies if— a holder for a mineral to which a gross value royalty decision (the existing decision ) applies becomes aware that the existing decision was not, or is no longer, correct; and the gross value of the mineral, correctly decided, would be greater than the value stated in the existing decision. Within 30 days after becoming aware the existing decision was not, or is no longer, correct, the holder must— advise the revenue commissioner, in writing— that the existing decision was not, or is no longer, correct; and the reason the existing decision was not, or is no longer, correct; and give the revenue commissioner any relevant documents or information to enable the gross value of the mineral to be correctly decided. In relation to a failure to comply with a requirement under this section, see the Taxation Administration Act 2001 , sections 120 and 121 . (sec.42-ssec.1) This section applies if— a holder for a mineral to which a gross value royalty decision (the existing decision ) applies becomes aware that the existing decision was not, or is no longer, correct; and the gross value of the mineral, correctly decided, would be greater than the value stated in the existing decision. (sec.42-ssec.2) Within 30 days after becoming aware the existing decision was not, or is no longer, correct, the holder must— advise the revenue commissioner, in writing— that the existing decision was not, or is no longer, correct; and the reason the existing decision was not, or is no longer, correct; and give the revenue commissioner any relevant documents or information to enable the gross value of the mineral to be correctly decided. In relation to a failure to comply with a requirement under this section, see the Taxation Administration Act 2001 , sections 120 and 121 .

• (a) a holder for a mineral to which a gross value royalty decision (the existing decision ) applies becomes aware that the existing decision was not, or is no longer, correct; and
• (b) the gross value of the mineral, correctly decided, would be greater than the value stated in the existing decision.
• (a) advise the revenue commissioner, in writing— (i) that the existing decision was not, or is no longer, correct; and (ii) the reason the existing decision was not, or is no longer, correct; and
• (i) that the existing decision was not, or is no longer, correct; and
• (ii) the reason the existing decision was not, or is no longer, correct; and
• (b) give the revenue commissioner any relevant documents or information to enable the gross value of the mineral to be correctly decided.
• (i) that the existing decision was not, or is no longer, correct; and
• (ii) the reason the existing decision was not, or is no longer, correct; and

sec.43 Amendment of gross value royalty decision

The revenue commissioner may amend a gross value royalty decision (an earlier decision ) for a mineral if the revenue commissioner is reasonably satisfied that the earlier decision was not, or is no longer, correct. If the revenue commissioner proposes to amend the earlier decision in a way that increases the gross value of a mineral under the decision, the revenue commissioner must— give the holder for the mineral a notice stating that the revenue commissioner proposes to make the amendment; and invite the holder to make submissions about the proposed amendment within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period. In amending the earlier decision, the revenue commissioner— may consider any of the matters mentioned in section 37 as if they related to making the amendment; and if a submission about the proposed amendment is made by the holder within the period mentioned in subsection (2) (b) for the submission—must consider the submission. The amendment of an earlier decision under subsection (1) must, for a return period for which the decision applies, be made within 5 years after the day that royalty became payable for that return period. Despite subsection (4) , the revenue commissioner may, at any time, amend an earlier decision for a mineral applying for a return period in any of the following ways— the earlier decision may be amended in a way that decreases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the holder applied for an amended gross value royalty decision; the earlier decision may be amended in a way that increases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the revenue commissioner gave the holder— a notice informing the holder that an investigation into the holder’s liability for royalty has started under the Taxation Administration Act 2001 , part 7 or a recognised law; or a notice under subsection (2) ; the earlier decision may be amended in a way that increases the gross value of the mineral if the revenue commissioner reasonably believes— there has been fraud or evasion of royalty; or the holder for the mineral, or a person acting for the holder, has knowingly misled the revenue commissioner, or caused the revenue commissioner to be misled, about the value of the mineral, including, for example, by giving, omitting or changing information or documents; if an appeal against, or review of, the earlier decision has started, the earlier decision may be amended, with the holder’s agreement, before a decision is made on the appeal or review. Subsection (2) does not apply to an amendment of an earlier decision mentioned in subsection (5) (d) . The revenue commissioner can not be compelled to amend an earlier decision, to the extent the amendment would decrease the gross value applying for a mineral under the decision for a return period, if royalty was payable for the return period. For the Taxation Administration Act 2001 , section 75 , a decision of the revenue commissioner not to make an amendment mentioned in subsection (7) is declared to be a non-reviewable decision. The revenue commissioner may amend an earlier decision even if an objection or appeal against, or review of, the earlier decision has started but not yet been decided. For objections, reviews and appeals relating to gross value royalty decisions, see the Taxation Administration Act 2001 , part 6 . In this section— recognised law see the Taxation Administration Act 2001 , schedule 2 . (sec.43-ssec.1) The revenue commissioner may amend a gross value royalty decision (an earlier decision ) for a mineral if the revenue commissioner is reasonably satisfied that the earlier decision was not, or is no longer, correct. (sec.43-ssec.2) If the revenue commissioner proposes to amend the earlier decision in a way that increases the gross value of a mineral under the decision, the revenue commissioner must— give the holder for the mineral a notice stating that the revenue commissioner proposes to make the amendment; and invite the holder to make submissions about the proposed amendment within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period. (sec.43-ssec.3) In amending the earlier decision, the revenue commissioner— may consider any of the matters mentioned in section 37 as if they related to making the amendment; and if a submission about the proposed amendment is made by the holder within the period mentioned in subsection (2) (b) for the submission—must consider the submission. (sec.43-ssec.4) The amendment of an earlier decision under subsection (1) must, for a return period for which the decision applies, be made within 5 years after the day that royalty became payable for that return period. (sec.43-ssec.5) Despite subsection (4) , the revenue commissioner may, at any time, amend an earlier decision for a mineral applying for a return period in any of the following ways— the earlier decision may be amended in a way that decreases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the holder applied for an amended gross value royalty decision; the earlier decision may be amended in a way that increases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the revenue commissioner gave the holder— a notice informing the holder that an investigation into the holder’s liability for royalty has started under the Taxation Administration Act 2001 , part 7 or a recognised law; or a notice under subsection (2) ; the earlier decision may be amended in a way that increases the gross value of the mineral if the revenue commissioner reasonably believes— there has been fraud or evasion of royalty; or the holder for the mineral, or a person acting for the holder, has knowingly misled the revenue commissioner, or caused the revenue commissioner to be misled, about the value of the mineral, including, for example, by giving, omitting or changing information or documents; if an appeal against, or review of, the earlier decision has started, the earlier decision may be amended, with the holder’s agreement, before a decision is made on the appeal or review. (sec.43-ssec.6) Subsection (2) does not apply to an amendment of an earlier decision mentioned in subsection (5) (d) . (sec.43-ssec.7) The revenue commissioner can not be compelled to amend an earlier decision, to the extent the amendment would decrease the gross value applying for a mineral under the decision for a return period, if royalty was payable for the return period. (sec.43-ssec.8) For the Taxation Administration Act 2001 , section 75 , a decision of the revenue commissioner not to make an amendment mentioned in subsection (7) is declared to be a non-reviewable decision. (sec.43-ssec.9) The revenue commissioner may amend an earlier decision even if an objection or appeal against, or review of, the earlier decision has started but not yet been decided. For objections, reviews and appeals relating to gross value royalty decisions, see the Taxation Administration Act 2001 , part 6 . (sec.43-ssec.10) In this section— recognised law see the Taxation Administration Act 2001 , schedule 2 .

• (a) give the holder for the mineral a notice stating that the revenue commissioner proposes to make the amendment; and
• (b) invite the holder to make submissions about the proposed amendment within— (i) 30 days after the day the revenue commissioner gives the holder the notice; or (ii) if the revenue commissioner approves a longer period—the longer period.
• (i) 30 days after the day the revenue commissioner gives the holder the notice; or
• (ii) if the revenue commissioner approves a longer period—the longer period.
• (i) 30 days after the day the revenue commissioner gives the holder the notice; or
• (ii) if the revenue commissioner approves a longer period—the longer period.
• (a) may consider any of the matters mentioned in section 37 as if they related to making the amendment; and
• (b) if a submission about the proposed amendment is made by the holder within the period mentioned in subsection (2) (b) for the submission—must consider the submission.
• (a) the earlier decision may be amended in a way that decreases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the holder applied for an amended gross value royalty decision;
• (b) the earlier decision may be amended in a way that increases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the revenue commissioner gave the holder— (i) a notice informing the holder that an investigation into the holder’s liability for royalty has started under the Taxation Administration Act 2001 , part 7 or a recognised law; or (ii) a notice under subsection (2) ;
• (i) a notice informing the holder that an investigation into the holder’s liability for royalty has started under the Taxation Administration Act 2001 , part 7 or a recognised law; or
• (ii) a notice under subsection (2) ;
• (c) the earlier decision may be amended in a way that increases the gross value of the mineral if the revenue commissioner reasonably believes— (i) there has been fraud or evasion of royalty; or (ii) the holder for the mineral, or a person acting for the holder, has knowingly misled the revenue commissioner, or caused the revenue commissioner to be misled, about the value of the mineral, including, for example, by giving, omitting or changing information or documents;
• (i) there has been fraud or evasion of royalty; or
• (ii) the holder for the mineral, or a person acting for the holder, has knowingly misled the revenue commissioner, or caused the revenue commissioner to be misled, about the value of the mineral, including, for example, by giving, omitting or changing information or documents;
• (d) if an appeal against, or review of, the earlier decision has started, the earlier decision may be amended, with the holder’s agreement, before a decision is made on the appeal or review.
• (i) a notice informing the holder that an investigation into the holder’s liability for royalty has started under the Taxation Administration Act 2001 , part 7 or a recognised law; or
• (ii) a notice under subsection (2) ;
• (i) there has been fraud or evasion of royalty; or
• (ii) the holder for the mineral, or a person acting for the holder, has knowingly misled the revenue commissioner, or caused the revenue commissioner to be misled, about the value of the mineral, including, for example, by giving, omitting or changing information or documents;

sec.44 Notice of amendment

After amending an earlier decision under section 43 , the revenue commissioner must give the holder for the mineral to which the earlier decision applied a notice stating— the earlier decision has been amended; and the reasons for the amendment; and the period for which the amended decision applies; and how the earlier decision has been amended; and if the amendment applies for an earlier return period—that the revenue commissioner will reassess the amount of royalty payable for the earlier return period; and For reassessment of royalty payable, see subdivision 4 and the Taxation Administration Act 2001 , part 3 , division 3 . how the holder may object to the decision. For objections against amendments of gross value royalty decisions, see the Taxation Administration Act 2001 , section 63A .

• (a) the earlier decision has been amended; and
• (b) the reasons for the amendment; and
• (c) the period for which the amended decision applies; and
• (d) how the earlier decision has been amended; and
• (e) if the amendment applies for an earlier return period—that the revenue commissioner will reassess the amount of royalty payable for the earlier return period; and Note— For reassessment of royalty payable, see subdivision 4 and the Taxation Administration Act 2001 , part 3 , division 3 .
• (f) how the holder may object to the decision. Note— For objections against amendments of gross value royalty decisions, see the Taxation Administration Act 2001 , section 63A .

sec.45 Revenue commissioner must reassess amount of particular royalty payable

This section applies if— a gross value royalty decision (the unamended decision ), or an amendment under section 43 of a gross value royalty decision, for a mineral applies for an earlier return period; and the revenue commissioner has made an assessment under the Taxation Administration Act 2001 of the amount of royalty payable for the mineral by the holder for the earlier return period without having regard to the unamended decision or the amendment; and the decision mentioned in paragraph (a) increases or decreases the amount of royalty payable for the mineral by the holder for the earlier return period. The revenue commissioner must reassess, under the Taxation Administration Act 2001 , part 3 , division 3 — for an unamended decision—the amount of royalty payable for the mineral by the holder for each earlier return period to which the unamended decision applies; or for an amendment under section 43 of a gross value royalty decision—the amount of royalty payable for the mineral by the holder for each earlier return period to which the amendment applies. See the Taxation Administration Act 2001 , section 18 (b) . For the Taxation Administration Act 2001 , section 23 (b) (ii) , it is declared that the limitation period does not apply to— a reassessment required under subsection (2) (a) for a return period that decreases the holder’s liability for royalty, if the holder applies for a gross value royalty decision under section 35 within 5 years after royalty becoming payable for the return period; or a reassessment required under subsection (2) (a) for a return period that increases the holder’s liability for royalty, if the revenue commissioner gives the holder a notice under section 36 (3) , within 5 years after royalty becoming payable for the return period, stating that the revenue commissioner proposes to make a gross value royalty decision; or a reassessment required under subsection (2) (b) . (sec.45-ssec.1) This section applies if— a gross value royalty decision (the unamended decision ), or an amendment under section 43 of a gross value royalty decision, for a mineral applies for an earlier return period; and the revenue commissioner has made an assessment under the Taxation Administration Act 2001 of the amount of royalty payable for the mineral by the holder for the earlier return period without having regard to the unamended decision or the amendment; and the decision mentioned in paragraph (a) increases or decreases the amount of royalty payable for the mineral by the holder for the earlier return period. (sec.45-ssec.2) The revenue commissioner must reassess, under the Taxation Administration Act 2001 , part 3 , division 3 — for an unamended decision—the amount of royalty payable for the mineral by the holder for each earlier return period to which the unamended decision applies; or for an amendment under section 43 of a gross value royalty decision—the amount of royalty payable for the mineral by the holder for each earlier return period to which the amendment applies. See the Taxation Administration Act 2001 , section 18 (b) . (sec.45-ssec.3) For the Taxation Administration Act 2001 , section 23 (b) (ii) , it is declared that the limitation period does not apply to— a reassessment required under subsection (2) (a) for a return period that decreases the holder’s liability for royalty, if the holder applies for a gross value royalty decision under section 35 within 5 years after royalty becoming payable for the return period; or a reassessment required under subsection (2) (a) for a return period that increases the holder’s liability for royalty, if the revenue commissioner gives the holder a notice under section 36 (3) , within 5 years after royalty becoming payable for the return period, stating that the revenue commissioner proposes to make a gross value royalty decision; or a reassessment required under subsection (2) (b) .

• (a) a gross value royalty decision (the unamended decision ), or an amendment under section 43 of a gross value royalty decision, for a mineral applies for an earlier return period; and
• (b) the revenue commissioner has made an assessment under the Taxation Administration Act 2001 of the amount of royalty payable for the mineral by the holder for the earlier return period without having regard to the unamended decision or the amendment; and
• (c) the decision mentioned in paragraph (a) increases or decreases the amount of royalty payable for the mineral by the holder for the earlier return period.
• (a) for an unamended decision—the amount of royalty payable for the mineral by the holder for each earlier return period to which the unamended decision applies; or
• (b) for an amendment under section 43 of a gross value royalty decision—the amount of royalty payable for the mineral by the holder for each earlier return period to which the amendment applies.
• (a) a reassessment required under subsection (2) (a) for a return period that decreases the holder’s liability for royalty, if the holder applies for a gross value royalty decision under section 35 within 5 years after royalty becoming payable for the return period; or
• (b) a reassessment required under subsection (2) (a) for a return period that increases the holder’s liability for royalty, if the revenue commissioner gives the holder a notice under section 36 (3) , within 5 years after royalty becoming payable for the return period, stating that the revenue commissioner proposes to make a gross value royalty decision; or
• (c) a reassessment required under subsection (2) (b) .

Civil penalty

sec.46 Imposition— Act , s 321A

This section applies if a person makes a section 20 election and either— the royalty payable for the current return period exceeds the royalty payable for the previous return period by an amount that is more than 15% of the royalty payable for the previous return period; or both of the following apply— the royalty payable for the current return period is less than the royalty payable for the previous return period; the total of the royalty payable for the first month and the second month of the current return period is less than 50% of the total royalty payable for the current return period. The person is liable to the State for an amount ( civil penalty ) equal to 25% of the default estimate difference, if any, for each month of the current return period for which the person makes the section 20 election. For subsection (2) , the default estimate difference for a month of the current return period is the difference between— the amount that would have been payable for the month under section 18 if the person had not made the section 20 election; and the amount payable for the month under the section 20 election. However, if the amount mentioned in subsection (3) (a) is less than the amount mentioned in subsection (3) (b) , the default estimate difference for the month is taken to be zero. Subsection (6) applies if, for royalty payable for the current return period, an assessment is made under the Taxation Administration Act 2001 . For subsection (1) — the royalty payable for the current return period is the amount of royalty payable taking into account the assessment; and a reference to the royalty payable for the previous return period is a reference to the amount worked out under section 20 (2) . The revenue commissioner may remit the whole or part of the civil penalty. The remission must be made by assessment under the Taxation Administration Act 2001 . In this section— current return period see section 20 (1) (a) . section 20 election means an election under section 20 (3) to change the amount payable to the State for the first month or the second month of the current return period. (sec.46-ssec.1) This section applies if a person makes a section 20 election and either— the royalty payable for the current return period exceeds the royalty payable for the previous return period by an amount that is more than 15% of the royalty payable for the previous return period; or both of the following apply— the royalty payable for the current return period is less than the royalty payable for the previous return period; the total of the royalty payable for the first month and the second month of the current return period is less than 50% of the total royalty payable for the current return period. (sec.46-ssec.2) The person is liable to the State for an amount ( civil penalty ) equal to 25% of the default estimate difference, if any, for each month of the current return period for which the person makes the section 20 election. (sec.46-ssec.3) For subsection (2) , the default estimate difference for a month of the current return period is the difference between— the amount that would have been payable for the month under section 18 if the person had not made the section 20 election; and the amount payable for the month under the section 20 election. (sec.46-ssec.4) However, if the amount mentioned in subsection (3) (a) is less than the amount mentioned in subsection (3) (b) , the default estimate difference for the month is taken to be zero. (sec.46-ssec.5) Subsection (6) applies if, for royalty payable for the current return period, an assessment is made under the Taxation Administration Act 2001 . (sec.46-ssec.6) For subsection (1) — the royalty payable for the current return period is the amount of royalty payable taking into account the assessment; and a reference to the royalty payable for the previous return period is a reference to the amount worked out under section 20 (2) . (sec.46-ssec.7) The revenue commissioner may remit the whole or part of the civil penalty. (sec.46-ssec.8) The remission must be made by assessment under the Taxation Administration Act 2001 . (sec.46-ssec.9) In this section— current return period see section 20 (1) (a) . section 20 election means an election under section 20 (3) to change the amount payable to the State for the first month or the second month of the current return period.

• (a) the royalty payable for the current return period exceeds the royalty payable for the previous return period by an amount that is more than 15% of the royalty payable for the previous return period; or
• (b) both of the following apply— (i) the royalty payable for the current return period is less than the royalty payable for the previous return period; (ii) the total of the royalty payable for the first month and the second month of the current return period is less than 50% of the total royalty payable for the current return period.
• (i) the royalty payable for the current return period is less than the royalty payable for the previous return period;
• (ii) the total of the royalty payable for the first month and the second month of the current return period is less than 50% of the total royalty payable for the current return period.
• (i) the royalty payable for the current return period is less than the royalty payable for the previous return period;
• (ii) the total of the royalty payable for the first month and the second month of the current return period is less than 50% of the total royalty payable for the current return period.
• (a) the amount that would have been payable for the month under section 18 if the person had not made the section 20 election; and
• (b) the amount payable for the month under the section 20 election.
• (a) the royalty payable for the current return period is the amount of royalty payable taking into account the assessment; and
• (b) a reference to the royalty payable for the previous return period is a reference to the amount worked out under section 20 (2) .

Unpaid royalty interest