Document ID: chunk:federal_register_of_legislation:C2014C00672:clause:7_11
Version: federal_register_of_legislation:C2014C00672
Segment Type: clause
Provision Reference: sch 7 cl 11
Character Range: 85208–85747

11  Subsection 45‑10(2) (example)
Repeal the example, substitute:
Example: For the 2013‑14 MRRT year, Pinder Mines Ltd has a total mining profit of $80 million, a group mining profit of $100 million, group MRRT allowances of $10 million and a taper amount of $50 million ($100 million ‑ $50 million). The amount worked out using the formula in subsection (1) is $22 million:((($75 million ‑ $50 million) × 3/2) ‑ $10 million) × 4/5. Multiplying this amount by the MRRT rate gives Pinder Mines Ltd an offset for the year of $4.95 million.