115‑90 Effect of transfer or split of pr115‑90 Effect of transfer or split of project interest on instalment income

115‑90 Effect of transfer or split of project interest on instalment income

Instalment quarters that have ended before transfer or split happens—instalment income not affected by transfer or split (1) In working out, under section 115‑40, your *instalment income for an *instalment quarter that ends before a *mining project transfer, *mining project split, *pre‑mining project transfer or *pre‑mining project split happens: (a) include amounts that: (i) relate to *mining revenue events that happen during the instalment quarter; and (ii) would, apart from the application of Division 120, 125, 145 or 150 of the Minerals Resource Rent Tax Act 2012 in relation to the transfer or split, be included in your *mining revenue or *pre‑mining revenue as mentioned in section 115‑40; and (b) do not include amounts that: (i) relate to mining revenue events that happen during the instalment quarter; and (ii) are included in your mining revenue or pre‑mining revenue as mentioned in section 115‑40 only because of the application of those Divisions in relation to the transfer or split.

Note 1: For the original miner or explorer (paragraph (a) case):

(a) a credit may be available under section 115‑100; and
(b) the effect of paragraph (a) is modified in some circumstances: see section 115‑105.

Note 2: For the new miner or explorer (paragraph (b) case), additional “catch up” instalment income may be included in the quarter in which the transfer or split happens: see section 115‑95.

Instalment quarter in which transfer or split happens—instalment income transfers with interest (2) In working out, under section 115‑40, your *instalment income for an *instalment quarter in which a *mining project transfer, *mining project split, *pre‑mining project transfer or *pre‑mining project split happens: (a) include amounts that: (i) relate to *mining revenue events that happen during the instalment quarter; and (ii) because of the application of Division 120, 125, 145 or 150 of the Minerals Resource Rent Tax Act 2012 in relation to the transfer or split, are included in your *mining revenue or *pre‑mining revenue as mentioned in section 115‑40; and (b) do not include amounts that: (i) relate to mining revenue events that happen during the instalment quarter; and (ii) because of the application of those Divisions in relation to the transfer or split, are not included in your mining revenue or pre‑mining revenue as mentioned in section 115‑40.