45‑10 Low profit offset—profits greater 45‑10 Low profit offset—profits greater than $75 million and less than $125 million

#### 45‑10 Low profit offset—profits greater than $75 million and less than $125 million (1) A miner with a group mining profit greater than $75 million and less than $125 million for an \*MRRT year has an offset for that year if the amount worked out using the following formula is greater than zero:  where: > miner’s group MRRT allowances is the sum of the \*MRRT allowances for each mining project interest for the year that an \*entity mentioned in subsection 45‑5(1) has. > miner’s share of group mining profit is the sum of the miner’s \*mining profit for each of its mining project interests for the year, divided by the miner’s group mining profit for the year. > taper amount is the difference between the miner’s group mining profit for the year and $50 million. > Note 1: An offset under this section reduces the amount of MRRT that a miner must pay for an MRRT year: see section 10‑15. > Note 2: If the MRRT year is not a 12‑month period, the miner’s group MRRT allowances and the miner’s share of group mining profit are affected by section 190‑20 (substituted accounting periods). (2) The amount of the miner’s offset for the \*MRRT year is the amount worked out using the formula in subsection (1), multiplied by the \*MRRT rate. > Note: Example: For the 2013‑14 MRRT year, Pinder Mines Ltd has a total mining profit of $80 million, a group mining profit of $100 million, group MRRT allowances of $10 million and a taper amount of $50 million ($100 million ‑ $50 million). The amount worked out using the formula in subsection (1) is $22 million:((($75 million ‑ $50 million) × 3/2) ‑ $10 million) × 4/5. Multiplying this amount by the MRRT rate gives Pinder Mines Ltd an offset for the year of $4.95 million.