175‑10 Choosing to use the alternative v175‑10 Choosing to use the alternative valuation method

175‑10 Choosing to use the alternative valuation method

(1) A miner may choose to use the alternative valuation method in relation to a mining project interest that the miner has, for an *MRRT year, if either or both of the following apply: (a) group production of *taxable resources for the miner for that year under section 175‑15 is less than 10 million tonnes; (b) taxable resources extracted during the year from the *project area for the mining project interest are used as part of an operation that: (i) is for *supplying things (other than taxable resources) produced using a taxable resource extracted under the authority of a *production right to which the project area relates; and (ii) existed in *Australia just before 2 May 2010; and (iii) the miner carries on (whether alone or jointly with other *entities).

Note: Division 119 in Schedule 1 to the Taxation Administration Act 1953 is about choices under the MRRT law.

(2) Each choice that the miner makes must relate to: (a) a single mining project interest that the miner has; and (b) a single *MRRT year.