Mineral Royalty Amendment Bill 2021
From 1 July 2021, the mining security levy imposed under the Mining Management Act 2001 and costs associated with provision of the security are no longer deductible for mineral royalty purposes in the Mineral Royalty Act 1982 (the Act).
This amendment is in response to a 2019 Supreme Court decision which had the effect of allowing mineral royalty deductions to be used to subsidise the mining security levy and associated costs in providing that security.
This amendment preserves the Territory’s historical position, that the ability to offset mineral royalty against payment of another regulatory fee is contrary to the intent of two distinct policies.
This amendment will protect up to $2 million in Territory revenue per annum.
The delegation provisions within the Act have been clarified and modernised to allow the Secretary to delegate by reference to position title rather than by an individual’s name. This amendment improves administrative efficiency within the Territory Revenue Office and does not have a financial impact on miners or the general public.
Read the Bill for further information on the mineral royalty amendments.
Queries regarding this amendment can be directed, by email, to the Territory Revenue Office Royalties and Assurance unit.
Last updated: 25 February 2021
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