CTHIn ForceAct
Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012
115‑70 Working out your benchmark instal115‑70 Working out your benchmark instalment rate
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115‑70 Working out your benchmark instalment rate
Your benchmark instalment rate for an *MRRT year is the percentage worked out to 2 decimal places (rounding up if the third decimal place is 5 or more) using the formula: Start formula start fraction The amount of *MRRT you are liable to pay for the *MRRT year over Your *instalment income for the *MRRT year end fraction times 100 end formula However, your benchmark instalment rate for the MRRT year is a nil rate if either component of the fraction is nil.