Minerals Resource Rent Tax Act 2012
30‑15 Meaning of mining revenue event30‑15 Meaning of mining revenue event
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30‑15 Meaning of mining revenue event
(1) A mining revenue event happens in relation to a *taxable resource extracted from the *project area for a mining project interest if the miner who has the interest: (a) makes an *initial supply of the taxable resource, but not after its exportation from *Australia; or (b) exports the taxable resource from Australia, but not after paragraph (a) has applied to the taxable resource; or (c) makes an initial supply of or uses, or exports from Australia, something produced using the taxable resource, but not after: (i) paragraph (a) or (b) has already applied in relation to the taxable resource; or (ii) this paragraph has already applied in relation to the thing produced using the taxable resource.
Note: There is at least one mining revenue event in relation to each quantity of taxable resource. However, there could only be more than one mining revenue event in relation to a quantity of taxable resource if more than one thing is produced from it.
Note: Example: There are 2 mining revenue events in relation to a quantity of coal if it is extracted then consumed producing both electricity and fly‑ash.
(2) However, a mining revenue event does not happen for use of a thing produced using a *taxable resource, to the extent that: (a) the use takes place in the course of operations or activities of a kind mentioned in paragraph 35‑20(1)(a) for the mining project interest; and (b) those operations or activities do not involve doing anything to, or with, other taxable resources extracted from the *project area for the interest after those other taxable resources reach the form and location they are in when a mining revenue event happens in relation to them; and (c) the use does not give rise to: (i) an amount of *mining expenditure for the miner; or (ii) an amount that is taken into account for the miner under step 2 of the method statement in section 30‑25; or (iii) an amount that is taken into account for the miner under step 3 of the method statement in section 175‑25 (alternative valuation method).