Minerals Resource Rent Tax Act 2012
65‑20 Available royalty credits65‑20 Available royalty credits
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65‑20 Available royalty credits
(1) A *royalty credit can be applied in working out a *transferred royalty allowance for a mining project interest for an *MRRT year (the transfer year) if: (a) the mining project interest and the mining project interest for which the royalty credit arises are *integrated at all times in the period: (i) starting at the time the *royalty credit arises; and (ii) ending at the end of the transfer year; and
Note 1: For when a royalty credit arises, see section 60‑20.
Note 2: For when mining project interests are integrated, see Division 255.
(b) the royalty credit does not relate to an MRRT year for which there was a choice to use the alternative valuation method under Division 175 in relation to the mining project interest for which the royalty credit arises.
(2) However, the *royalty credit cannot be applied to the extent it is applied in working out: (a) a *royalty allowance; or (b) a *transferred royalty allowance; for another mining project interest for the year.