Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012
115‑1 What this Division is about115‑1 What this Division is about
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115‑1 What this Division is about
You pay quarterly instalments of MRRT under this Division if you have mining revenue for a quarter or a positive instalment rate.
Instalments give rise to a credit once an assessment of the MRRT is made.
The amount of a quarterly instalment is the product of your instalment income for the quarter and your applicable instalment rate.
The applicable instalment rate may be a rate chosen by you, a rate given to you by the Commissioner, or a statutory default rate.
General interest charge may be payable if a rate you choose for a quarter is too low, having regard to the amount of MRRT you are liable to pay for the year.