Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012
155‑57 Amendment to give effect to MRRT 155‑57 Amendment to give effect to MRRT anti‑profit shifting rules
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155‑57 Amendment to give effect to MRRT anti‑profit shifting rules
The Commissioner may amend an assessment of an *assessable amount of yours at any time for the purposes of giving effect to Division 205 (about anti‑profit shifting) of the Minerals Resource Rent Tax Act 2012.
6 Section 155‑90 in Schedule 1
Before “You”, insert “(1)”.
7 At the end of section 155‑90 in Schedule 1
Add:
(2) You cannot object under subsection (1) against an assessment ascertaining that: (a) you have no *taxable mining profit for an *MRRT year; or (b) you have a taxable mining profit and no *MRRT payable for an MRRT year; unless you are seeking an increase in your liability.
8 Section 350‑5 in Schedule 1
Repeal the section, substitute: