As a result of the 2018-19 budget revenue measures, the Mineral Royalty Act has been updated.
The updated Mineral Royalty Act incorporates the following:
- Introducing a minimum value based royalty on or after 1 July 2019
- Deductions for the cost of buying, renting or building accommodation in the Northern Territory for resident employees
- Additional Capital Recognition Deductions for social infrastructure built in the Territory
- Removal of deductions for interstate Fly-in, Fly-out travel.