15‑85 Refunded excess rehabilitation tax15‑85 Refunded excess rehabilitation tax offset

15‑85 Refunded excess rehabilitation tax offset

Your assessable income includes an amount the Commissioner pays you under paragraph 225‑25(2)(b) of the Minerals Resource Rent Tax Act 2012.

Note: You can get a refund of excess rehabilitation tax offsets under section 225‑25 of the Minerals Resource Rent Tax Act 2012.

10 Section 40‑40 (table item 8)

Omit “*mining operations”, substitute “*mining and quarrying operations”.

11 Subsection 40‑70(3)

Omit “base value in the formula in subsection (1)”, substitute “*base value”.

12 Subsection 40‑72(1) (formula)

Repeal the formula, substitute:

Start formula *Base value times start fraction Days held over 365 end fraction times start fraction 200% over Asset's *effective life end fraction end formula

13 Subsection 40‑72(1)

Omit “base value has the same meaning as in subsection 40‑70(1).”

14 Subsection 40‑72(3)

Omit “base value in the formula in subsection (1)”, substitute “*base value”.

15 Paragraph 40‑80(1)(a)

After “*mining”, insert “and quarrying”.

16 Subparagraph 40‑80(1)(c)(i)

Omit “mining operations”, substitute “mining and quarrying operations”.

17 Subsection 40‑95(10) (table items 1, 2 and 3)

Omit “*mining operations”, substitute “*mining and quarrying operations”.

18 Subsection 40‑102(4) (table item 9)

After “*mining”, insert “and quarrying”.

19 Paragraph 40‑630(1)(b)

After “*mining”, insert “and quarrying”.

20 Subsection 40‑630(1) (paragraph (a) of the note)

After “mining”, insert “and quarrying”.

21 Paragraphs 40‑630(1A)(b), (1B)(b) and (3)(b)

After “*mining”, insert “and quarrying”.

22 Paragraph 40‑650(3)(a)

After “*mining”, insert “and quarrying”.

23 Section 40‑725

After:

• paying petroleum resource rent tax; and

insert:

• paying minerals resource rent tax; and

24 Subsection 40‑730(1)

After “*mining”, insert “and quarrying”.

25 Paragraph 40‑730(1)(a)

After “mining”, insert “and quarrying”.

26 Subsection 40‑730(7)

After “Mining”, insert “and quarrying”.

27 Subparagraph 40‑735(1)(a)(i)

After “*mining”, insert “and quarrying”.

28 Subsection 40‑735(4)