300‑1 Dictionary300‑1 Dictionary

#### 300‑1 Dictionary In this Act: > Aboriginal person has the meaning given by subsection 4(1) of the Aboriginal and Torres Strait Islander Act 2005. > accounting principles has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > accounting standard has the same meaning as in the Corporations Act 2001. > adjustable value: (a) of a \*starting base asset, has the meaning given by subsection 165‑10(7); and (b) of a disposed asset (within the meaning of section 165‑35), has the meaning given by subsection 165‑35(2). > affiliate has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > allowance component means any of the following: (a) a \*royalty credit; (b) a \*pre‑mining loss; (c) a \*mining loss; (d) a \*starting base loss. > approved form has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > arm’s length has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > arm’s length consideration has the meaning given by section 30‑30. > arrangement has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > assessed MRRT means MRRT, as assessed under Schedule 1 to the Taxation Administration Act 1953. > assessment has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > auditing standard has the same meaning as in the Corporations Act 2001. > Australia, when used in a geographical sense, includes: (a) all the external Territories other than the Australian Antarctic Territory; and (b) an area that is an offshore area for the purposes of the Offshore Petroleum and Greenhouse Gas Storage Act 2006. > Australian law has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > Australian permanent establishment has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > base value has the meaning given by subsection 90‑5(1). > cessation event has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > CGT asset has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > closely associated has the meaning given by subsection 95‑20(5). > Commissioner means the Commissioner of Taxation. > Commonwealth law has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > connected with has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > consolidatable group has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > consolidated group has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > constituent asset: (a) of a \*starting base asset that is treated as a single starting base asset because of section 80‑30, means any of the things mentioned in paragraphs 80‑30(1)(a) to (d) that are treated as the single starting base asset; or (b) of a starting base asset that is treated as a single starting base asset because of subsection 180‑10(3), means any of the starting base assets that are, under that subsection, treated as the single starting base asset. > cost base has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > created: in relation to a \*consolidated group or \*MEC group, has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > decreasing adjustment has the meaning given by section 195‑1 of the \*GST Act. > depreciating asset has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > derivative financial arrangement has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > diminishing value method has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > downstream mining operations has the meaning given by section 255‑15. > effective life has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > entity has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > equity interest has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > excluded expenditure has the meaning given by Subdivision 35‑B. > excluded STB has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > exploration or prospecting has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > exploration right has the meaning given by subsection 70‑25(3). > extract, in relation to a \*taxable resource, means extract the taxable resource in any way, and includes recovering the taxable resource from the place where it occurs. > financial arrangement has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > financial year has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > foreign currency has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > foreign currency hedge has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > foreign law has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > general interest charge has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > GST has the meaning given by section 195‑1 of the \*GST Act. > GST Act has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > head company has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > higher ranking allowance, in relation to an \*MRRT allowance, means any other MRRT allowance that, under section 10‑10, is applied earlier than that allowance in working out a miner’s \*MRRT liability. > hire purchase agreement has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > hold a thing mentioned in subsection 250‑5(2) has the meaning given by Division 250. > income tax law has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > income year has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > increasing adjustment has the meaning given by section 195‑1 of the \*GST Act. > index number has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > initial supply has the meaning given by section 30‑20. > input tax credit has the meaning given by section 195‑1 of the \*GST Act. > installed ready for use has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > instalment income has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > instalment quarter has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > integrated, in relation to mining project interests, has the meaning given by Division 255. > interim expenditure, in relation to a \*starting base asset relating to a mining project interest, has the meaning given by section 90‑55. > long term bond rate, for a period, has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > market value has a meaning affected by Subdivision 960‑S of the Income Tax Assessment Act 1997. > MEC group has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > member has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > mine development expenditure has the meaning given by subsection 80‑35(3). > miner means an \*entity that has a \*mining project interest. > mining expenditure has the meaning given by Division 35. > mining loss has the meaning given by section 75‑20. > mining loss allowance has the meaning given by section 75‑10. > mining operations has the meaning given by section 35‑20. > mining profit has the meaning given by Division 25. > mining project interest has the meaning given by section 15‑5. > mining project split has the meaning given by subsection 125‑10(3). > mining project transfer has the meaning given by subsection 120‑10(3). > mining, quarrying or prospecting information has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > mining revenue has the meaning given by Division 30. > mining revenue event has the meaning given by section 30‑15. > mining royalty has the meaning given by subsection 35‑45(1). > mining venture has the meaning given by subsection 15‑5(3). > MRRT means minerals resource rent tax imposed by any of the following: (a) the Minerals Resource Rent Tax (Imposition—General) Act 2012; (b) the Minerals Resource Rent Tax (Imposition—Customs) Act 2012; (c) the Minerals Resource Rent Tax (Imposition—Excise) Act 2012. > MRRT allowance has the meaning given by section 10‑10. > MRRT benefit has the meaning given by section 210‑15. > MRRT disadvantage has the meaning given by subsection 210‑30(2). > MRRT law means: (a) this Act; and (b) any Act that imposes MRRT; and (c) the Taxation Administration Act 1953, so far as it relates to any Act covered by paragraphs (a) and (b); and (d) any other Act, so far as it relates to any Act covered by paragraphs (a) to (c) (or to so much of that Act as is covered); and (e) regulations under an Act, so far as they relate to any Act covered by paragraphs (a) to (d) (or to so much of that Act as is covered). > MRRT liability has the meaning given by section 10‑5. > MRRT rate has the meaning given by the following: (a) section 4 of the Minerals Resource Rent Tax (Imposition—General) Act 2012; (b) section 4 of the Minerals Resource Rent Tax (Imposition—Customs) Act 2012; (c) section 4 of the Minerals Resource Rent Tax (Imposition—Excise) Act 2012. > MRRT year has the meaning given by sections 10‑25, 190‑10 and 190‑15. > non‑cash benefit has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > opening adjustable value has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > originates, in relation to a mining project interest and a \*pre‑mining project interest, has the meaning given by subsection 70‑20(2). > partnership has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > pre‑mining expenditure has the meaning given by section 70‑35. > pre‑mining loss has the meaning given by section 70‑30. > pre‑mining loss allowance has the meaning given by section 70‑10. > pre‑mining loss cap has the meaning given by section 95‑30. > pre‑mining profit has the meaning given by section 140‑5. > pre‑mining project interest has the meaning given by section 70‑25. > pre‑mining project operations has the meaning given by subsection 70‑35(5). > pre‑mining project split has the meaning given by subsection 150‑10(2). > pre‑mining project transfer has the meaning given by subsection 145‑10(2). > pre‑mining revenue has the meaning given by section 70‑40. > prime cost method has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > private mining royalty has the meaning given by subsection 35‑45(2). > production right has the meaning given by section 15‑15. > project area has the meaning given by section 15‑20 or subsection 70‑25(4). > provisional head company of a \*MEC group has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > recoupment has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > rehabilitation tax offset has the meaning given by section 225‑10. > rehabilitation tax offset amount: (a) in relation to a mining project interest—has the meaning given by section 225‑15; and (b) in relation to a \*pre‑mining project interest—has the meaning given by section 225‑20. > resource marketing operations has the meaning given by subsection 30‑25(7). > royalty includes the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > royalty allowance has the meaning given by section 60‑10. > royalty credit has the meaning given by section 60‑20. > scheme has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > shortfall interest charge has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > split percentage: (a) for a new interest a miner has just after a \*mining project split—has the meaning given by section 125‑15; and (b) for a new interest an \*entity has just after a \*pre‑mining project split—has the meaning given by subsections 150‑15(5) and (6). > starting base adjustment for a \*starting base asset, has the meaning given by section 165‑20. > starting base adjustment amount for a \*starting base asset, has the meaning given by section 165‑10. > starting base adjustment event, for a \*starting base asset, has the meaning given by section 165‑5. > starting base allowance has the meaning given by section 80‑10. > starting base asset relating to a mining project interest has the meaning given by section 80‑25 and subsection 80‑35(1). > starting base days has the meaning given by subsections 80‑40(6) and (7). > starting base loss, for a mining project interest, has the meaning given by section 80‑20. > starting base return means a return of the kind referred to in section 117‑20 in Schedule 1 to the Taxation Administration Act 1953, that complies with all the requirements of that section and section 117‑25 (if applicable) in that Schedule and section 388‑75 in that Schedule. > start time, for a \*starting base asset relating to a mining project interest, has the meaning given by subsection 80‑25(2). > State law has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > subsidiary member has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > supply has the meaning given by section 195‑1 of the \*GST Act. > suspension day has the meaning given by section 130‑10. > taxable resource has the meaning given by Division 20. > taxation law has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > termination day: (a) for a mining project interest, has the meaning given by section 135‑5; or (b) for a \*pre‑mining project interest, has the meaning given by section 155‑5. > termination value, of a \*starting base asset, has the meaning given by subsection 165‑10(3) and (4). > Territory law has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > Torres Strait Islander has the meaning given by subsection 4(1) of the Aboriginal and Torres Strait Islander Act 2005. > transfer pricing guidelines has the meaning given by subsection 205‑15(2). > transferred mining loss allowance has the meaning given by section 100‑10. > transferred pre‑mining loss allowance has the meaning given by section 95‑10. > transferred royalty allowance has the meaning given by section 65‑10. > transformative operations has the meaning given by subsection 30‑25(6). > trustee has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. > upstream mining operations has the meaning given by section 35‑15. > valuation point for a \*taxable resource has the meaning given by Division 40.