See the Derivative Mining Rights fact sheet for information about the effect of derivative mining rights on dutiable value.
Transfer Duty
Sections 91E and 91F of the Duties Act 2008 provide that, when calculating duty on certain agreements, the value of a mining tenement will take into account any derivative mining right that will be granted following the transfer of the tenement.
If the derivative mining right is not granted within 90 days after the tenement is transferred, or is surrendered for no consideration within 12 months after the tenement is transferred
- the value of the tenement will be determined without regard to any effect the derivative mining right may have on the value and
- the relevant person must notify the Commissioner using this form within two months after the end of the 90-day period or the date of surrender.
Use the Request for longer period to grant derivative mining rights form to apply for an extension of time for the derivative mining right to be granted.
Landholder Duty
Section 204E of the Duties Act 2008 provides that where a landholder, or an entity linked to a landholder, is entitled to a mining tenement, the value of the mining tenement will take into account any derivative mining right that has been granted over the tenement.
If the derivative mining right is surrendered for no consideration within 12 months after the acquisition
- the value of the tenement will be determined without regard to any effect the derivative mining right may have on the value and
- the relevant person must notify the Commissioner using this form within two months after the date of surrender.
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