30‑20 Meaning of initial supply30‑20 Meaning of initial supply

30‑20 Meaning of initial supply

(1) An initial supply of a *taxable resource, or something produced using a taxable resource, is the first *supply of the taxable resource or thing a miner makes, disregarding a supply covered by subsection (2). (2) However, a *supply of a *taxable resource, or something produced using such a taxable resource, is not an initial supply if: (a) the supply is made between *entities in the course of a *mining venture in relation to which each of the entities has a mining project interest; or (b) the supply does not result in a change in the ownership of the taxable resource or the thing produced using such a taxable resource.