115‑95 Additional instalment income for 115‑95 Additional instalment income for new miner or new explorer

115‑95 Additional instalment income for new miner or new explorer

(1) Your instalment income for an *instalment quarter in an *MRRT year includes an amount worked out under subsection (2) if: (a) a *mining project transfer, *mining project split, *pre‑mining project transfer or *pre‑mining project split happens in the instalment quarter; and (b) you have the relevant *mining project interest or *pre‑mining project interest after the transfer or split. (2) The amount 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 before the start of the *instalment quarter in which the transfer or split happens; and (b) 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, results in an amount (including a nil amount) being included in your *mining revenue or *pre‑mining revenue as mentioned in section 115‑40.

Note 1: The additional instalment income amount is nil if the transfer or split happens in the first quarter of an MRRT year, and the miner or explorer that has the interest before the transfer or split has the same MRRT year as each miner or explorer that has the interest after the transfer or split.

Note 2: For the instalment quarter in which the transfer or split happens, instalment income from before the transfer or split is included under subsection 115‑90(2).