Mining (Royalties) Regulations 2025

In this regulation, decreasing adjustment, GST, increasing adjustment, input tax credit, net GST and supply have the meanings given in the A New Tax System (Goods and Services Tax) Act 1999 (Cth) section 195‑1.

In these regulations —

a reference to a royalty value or price of a mineral is taken to be a reference to that value or price reduced by the amount of the net GST (if any) payable on the supply to which the royalty value or price relates; and

a reference to the value of a mineral at a particular point in its production (other than its supply), or in a particular form, is taken to be a reference to that value reduced by the amount of GST that would be payable if the mineral were supplied at that point or in that form.

For the purposes of working out a value or price of a mineral in these regulations, an amount that relates to obtaining the mineral from a mining tenement (an expense) that may be deducted from another amount is reduced by the net input tax credit (if any) that arises in relation to the expense.

The net input tax credit that arises in relation to an expense is —

the input tax credit that arises in relation to the expense; plus

the sum of any decreasing adjustments in relation to the expense; minus

the sum of any increasing adjustments in relation to the expense.