117‑20 Starting base returns117‑20 Starting base returns

117‑20 Starting base returns

(1) In addition to the *MRRT returns required under section 117‑5 or 117‑15, you must give the Commissioner a *starting base return for the first *MRRT year if you make a choice under section 85‑5 of the Minerals Resource Rent Tax Act 2012. (2) The *starting base return must relate to all *starting base assets (and all property or rights that are expected to be starting base assets after the time mentioned in subsection 80‑25(2) of that Act) that you *hold that relate to the mining project interest or *pre‑mining project interest to which that choice relates. (3) A *starting base return is not valid unless you give it to the Commissioner: (a) on or before the first day of the sixth month after the end of the first *MRRT year of the entity that had the mining project interest, or *held the *pre‑mining project interest, on 1 July 2012; or (b) within such further period as the Commissioner allows. (4) A *starting base return must be in the *approved form. (5) The *approved form must require information to be provided relating to: (a) the *base value of all *starting base assets mentioned in subsection (2) for the first *MRRT year; or (b) what would be the base value of any other property or right mentioned in that subsection for that year if it were a starting base asset.