30‑50 Compensation for loss of taxable r30‑50 Compensation for loss of taxable resources

30‑50 Compensation for loss of taxable resources

(1) An amount is included in a miner’s *mining revenue for a mining project interest for an *MRRT year to the extent that: (a) during the year, the amount is received, or becomes receivable, by any of the following *entities: (i) the miner; (ii) an entity *connected with the miner; (iii) an *affiliate of the miner; (iv) an entity of which the miner is an affiliate; (v) an affiliate of an entity covered by subparagraph (ii); (vi) an entity connected with an entity covered by subparagraph (ii), (iii) or (iv); and (b) the amount is by way of insurance, compensation or indemnity relating to loss of, destruction of or damage that: (i) happens to a *taxable resource extracted from the *project area for the mining project interest, or to a thing produced using such a taxable resource; and (ii) happens before a *mining revenue event happens in relation to the taxable resource; and (c) the amount is reasonably attributable to the taxable resource, as mentioned in step 2 of the method statement in subsection 30‑25(1). (2) Work out the extent to which the amount is reasonably attributable to the *taxable resource as so mentioned by applying section 30‑25 as if the amount were a revenue amount under subsection 30‑25(2).