Document ID: chunk:federal_register_of_legislation:C2015C00338:clause:1_8:p3
Version: federal_register_of_legislation:C2015C00338
Segment Type: clause
Provision Reference: sch 1 cl 8 (pt 3/3)
Character Range: 14639–17282

the instalment is due to be paid, you are liable to pay the *general interest charge on the unpaid amount for each day in the period that:
 (a) started at the beginning of the day by which the instalment was due to be paid; and
 (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid:
 (i) the instalment;
 (ii) general interest charge on any of the instalment.

Subdivision 115‑C—Working out instalment amounts

Table of sections
115‑35 How to work out the amount of an instalment
115‑40 Meaning of instalment income
115‑45 Meaning of applicable instalment rate

115‑35  How to work out the amount of an instalment
  The amount of an instalment you are liable to pay in relation to *MRRT, in relation to an *instalment quarter, is:

115‑40  Meaning of instalment income
  Your instalment income for an *instalment quarter in an *MRRT year is the sum of the amounts worked out under column 2 of the table in subsection 30‑25(2) of the Minerals Resource Rent Tax Act 2012 for each *mining revenue event that:
 (a) happens during the instalment quarter; and
 (b) results in an amount (including a nil amount) being included:
 (i) under section 30‑10 of that Act in your *mining revenue for a *mining project interest for the MRRT year; or
 (ii) under section 70‑40 of that Act in your *pre‑mining revenue for a *pre‑mining project interest for the MRRT year.
Note 1: Special rules affect the calculation of instalment income for project interests that are transferred or split: see Subdivision 115‑G.
Note 2: If you have chosen to use the alternative valuation method under Division 175 of the Minerals Resource Rent Tax Act 2012, your unadjusted revenue amounts under section 175‑30 of that Act will be the same as the amounts worked out under column 2 of the table in subsection 30‑25(2) of that Act.

115‑45  Meaning of applicable instalment rate
 (1) Your applicable instalment rate, for an *instalment quarter in an *MRRT year (the current year), is worked out using the first applicable item in the table.

Applicable instalment rate for an instalment quarter for MRRT
Item                                                           Column 1                                                                                                                                                                    Column 2
                                                               If:                                                                                                                                                                         Your applicable instalment rate is: