Federal Register of Legislation - Australian Government

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Exemptions as made
This instrument exempts entities from having to lodge an MRRT return for an MRRT year for which they are covered by this instrument in light of the repeal of the MRRT law. This instrument can apply to an entity for one or more of its 2013, 2014 and 2015 MRRT years.
Administered by: Treasury
Made 22 Sep 2014
Registered 24 Sep 2014
Tabled HR 25 Sep 2014
Tabled Senate 25 Sep 2014

Legislative Instrument

 

Taxation Administration Act 1953 – Exemption for lodgment of 2013, 2014 or 2015 Minerals Resource Rent Tax (MRRT) Returns – Low volume non‑payers’ Instrument (No.1) 2014

 

I, George Hitti, Deputy Commissioner of Taxation, make this instrument under paragraph 117‑5(5)(b) of Schedule 1 to the Taxation Administration Act 1953.

 

 

 

 

 

George Hitti

Deputy Commissioner of Taxation

 

Dated: 22 September 2014

 

 

1.            Name of Instrument

This instrument is the Taxation Administration Act 1953 – Exemption for lodgment of 2013, 2014 or 2015 Minerals Resource Rent Tax (MRRT) Returns – Low volume non-payers’ Instrument (No.1) 2014.

 

2.            Commencement

This instrument commences on the day after its registration on the Federal Register of Legislative Instruments.

 

3.            Exemption from lodgment of 2013, 2014 or 2015 MRRT return

Entities covered by this instrument for an MRRT year are not required to lodge an MRRT return for that MRRT year.

 

4.            Who is covered by this Instrument

This instrument applies to an entity for the 2013, 2014 or 2015 MRRT year if the entity:

·           is required to lodge an MRRT return for that MRRT year, and

·           did not pay an MRRT instalment in respect of any instalment quarter during that MRRT year, and

·           was not a ‘major producer’ as defined in clause 5 of this instrument for any of the 2013, 2014 or 2015 MRRT years.

 

5.            Definition

For the purposes of this instrument:

Major producer is an entity that is a miner that would have, assuming it were required to work it out, a group production of taxable resources of more than 20 million tonnes for the MRRT year.

Group production of taxable resources is the group production of taxable resources for the miner worked out under section 175‑15 of the Minerals Resource Rent Tax Act 2012 (MRRTA).

Note: If the MRRT year is not a 12‑month period, in working out the group production of taxable resources, section 190‑20 of the MRRTA applies.

 

Other terms used in this instrument have the same meaning as defined in the:

·                         Minerals Resource Rent Tax Act 2012;

·                         Income Tax Assessment Act 1997; and

·                         Taxation Administration Act 1953.