Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012
115‑40 Meaning of instalment income115‑40 Meaning of instalment income
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115‑40 Meaning of instalment income
Your instalment income for an *instalment quarter in an *MRRT year is the sum of the amounts worked out under column 2 of the table in subsection 30‑25(2) of the Minerals Resource Rent Tax Act 2012 for each *mining revenue event that: (a) happens during the instalment quarter; and (b) results in an amount (including a nil amount) being included: (i) under section 30‑10 of that Act in your *mining revenue for a *mining project interest for the MRRT year; or (ii) under section 70‑40 of that Act in your *pre‑mining revenue for a *pre‑mining project interest for the MRRT year.
Note 1: Special rules affect the calculation of instalment income for project interests that are transferred or split: see Subdivision 115‑G.
Note 2: If you have chosen to use the alternative valuation method under Division 175 of the Minerals Resource Rent Tax Act 2012, your unadjusted revenue amounts under section 175‑30 of that Act will be the same as the amounts worked out under column 2 of the table in subsection 30‑25(2) of that Act.