Application of GST to rents for certain mining leases
290A Application of GST to rents for certain mining leases
This section applies to a lease, however called, that, under the repealed schedule to this Act, section 3, became a mining lease under this Act.
Editor’s note—
The repealed schedule to this Act was repealed by the Offshore Minerals Act 1998, section 446 and schedule 4, section 4.
If any rent payable under the lease after 30 June 2005 is for a supply for which GST is payable, the rent payable is the total of—
the rent that would have been payable if the rent were not for a supply for which GST is payable; and
10% of the rent that would have been payable if the rent were not for a supply for which GST is payable.
Subsection (2) applies despite the provisions of the mining lease.
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