200‑10 Choosing to use the simplified MR200‑10 Choosing to use the simplified MRRT method

#### 200‑10 Choosing to use the simplified MRRT method (1) A miner may choose to use the simplified MRRT method for an \*MRRT year if the sum (the miner’s group profit) of each of the following \*entities’ profit worked out under section 200‑15 for that year is less than $75 million: (a) the miner; (b) an entity \*connected with the miner; (c) an \*affiliate of the miner; (d) an entity of which the miner is an affiliate; (e) an affiliate of an entity covered by paragraph (b); (f) an entity connected with an entity covered by paragraph (b), (c) or (d). > Note: Division 119 in Schedule 1 to the Taxation Administration Act 1953 is about choices under the MRRT law. (2) A miner may also choose to use the simplified MRRT method for an \*MRRT year if: (a) the miner’s group profit for that year is less than $250 million; and (b) none of the \*entities mentioned in subsection (1) has a mining project interest covered by subsection (3) for the year. (3) A mining project interest is covered by this subsection for an \*MRRT year if the difference between: (a) the sum of the amounts mentioned in paragraph 60‑25(1)(a) for that interest for that year; and (b) the sum of any amounts received or receivable in that year as mentioned in subsection 60‑30(1) in relation to the amounts mentioned in that paragraph; is less than 25% of the amount of the \*entity’s profit (worked out under section 200‑15) for that year that relates to that interest. > Note: Paragraph 60‑25(1)(a) is about liabilities that give rise to royalty credits. These amounts are not the same as the royalty credits, which are grossed up under paragraph 60‑25(1)(b). (4) The choice must be given to the Commissioner. > Note: Division 119 in Schedule 1 to the Taxation Administration Act 1953 requires the choice to be in the approved form.