60‑30 Royalty credits reduced by recoupm60‑30 Royalty credits reduced by recoupments

#### 60‑30 Royalty credits reduced by recoupments (1) To the extent an amount that is received or becomes receivable by a miner is by way of \*recoupment of a liability that gives rise to a \*royalty credit for a mining project interest the miner has: (a) the amount is to be increased by dividing it by the \*MRRT rate; and (b) that increased amount is applied to reduce royalty credits for the interest: (i) in the \*MRRT year in which the amount is received or becomes receivable (the recoupment year); and (ii) in the order in which the royalty credits arise; and (iii) before applying the royalty credits in working out a \*royalty allowance or a \*transferred royalty allowance for the recoupment year. > Note: Paragraph (a) grosses‑up the recoupment in the same way that section 60‑25 grosses‑up the liability giving rise to the royalty credit. (2) If the increased amount exceeds the sum of those \*royalty credits, section 30‑45 applies to the excess (the excess royalty recoupment) in the recoupment year.