The Governor of NSW has, under the Mining Act 1992 (NSW), made the Mining Amendment (Coal Royalty) Regulation 2012.
Under the Mining Act 1992, royalty is payable by holders of mining leases at a base rate prescribed by the regulations on the value of coal recovered under the leases. The amending Coal Royalty Regulation 2012 prescribes an additional rate of royalty on coal that will be payable only by those holders of mining leases who are liable to pay the Commonwealth Minerals Resource Rent Tax (MRRT). The additional rate of royalty is to be prescribed by reference to the impact of the carbon tax imposed by the Clean Energy Act 2011, and associated legislation, of the Commonwealth on the finances of NSW. The amending Regulation commenced on 1 December 2012.
[LTN 233, 30/11]