• recoupment of mining assets overnext-nageldesign.de

    Recoupments relating to mining assets The value of mining assets in a sale of a mining concern transaction is governed by section 37 of the Income Tax Act whereby an effective value (similar to an insurance replacement value) is attributed to the mining assets (land mining rights

    Mining Tax Recommendations Tax Services Deloitte

    2021-5-21 · Recoupments relating to mining assets The value of mining assets in a sale of a mining concern transaction is governed by section 37 of the Income Tax Act, whereby an effective value (similar to an insurance replacement value) is attributed to the mining assets (land, mining rights

    Davis Tax Committee recommends changes to mining

    2021-5-23 · Removal of section 37 to bring the recoupment of mining assets in line with recoupments of non-mining assets. An investigation be conducted to provide

    Debt reduction and mining assets Lexology

    2015-2-20 · Generally, where there is a reduction of debt that has been used to fund deductible expenditure or allowance assets, a recoupment could arise

    Budget Watch ManagingDisruption assets.kpmg

    2021-5-15 · because mining companies include allowance assets in capital expenditure (even when acquired using debt), any debt reduction results in an immediate taxable recoupment. It is proposed that the tax treatment for mining companies be aligned with that of companies in other industries. While the wording of the proposal is rather vague, it appears that Treasury intends for mining

    EX-10.15 SEC

    2020-5-19 · ARTICLE 7 RECOUPMENT : 15 : Section 7.1 : Recoupment : 15 : Section 7.2 Seller is the owner and operator of a rare earth minerals mining and processing facility located in decree or order for relief affecting a substantial part of any of its assets by a court of competent jurisdiction in an involuntary case commenced under any

    Benhaus Mining (Proprietary) Limited v Commissioner

    2017-11-30 · [57] The parties are in agreement that, if Appellant does not carry on mining operations, the recoupment from the sale of depreciable assets falls to be included in gross income. In terms of the definition of the phrase “ capital expenditure incurred” in section 36(11), proceeds from the disposal of assets included in capital expenditure must be applied to reduce the amount of unredeemed capital

    Recoupment is therefore a recovery of an expense

    Recoupment is therefore a recovery of an expense previously allowed as a deduction. Arise when an asset is sold at a price above the ITV. Also arises on recovery of proceeds from an insurance policy for a damaged or destroyed asset. Always restricted to the capital allowances previously granted. Same as restricting the SP of the asset to the original or deemed cost. Where asset has not been granted SIA

    Hendrik Andrl.es *..'*^c»ee

    2021-3-26 · Capital expenditure ~ multiple mining operations 218 Capital expenditure locality of assets created 219 Special capital allowance 221 Recoupment of capital allowances 224 ’ Prospecting expenditure 2.27 Capital expenditure on change of ownership 229 Chapter 10 FARMERS 234 Farming operations 234 Summary of judicial interpretations ~

    Cliffe Dekker Hofmeyr Debt reduction and mining

    2021-5-5 · Generally, where there is a reduction of debt that has been used to fund deductible expenditure or allowance assets, a recoupment could arise in the hands of the debtor in terms of s19 of the Act. Similarly, where there is a reduction of debt that has been used to fund capital assets, it could result in a reduction of base cost and/or a capital

    LEADER IN NURTURING CHARTERED ACCOUNTANTS

    2017-7-10 · A miner’s recoupment is generally the proceeds on disposal A recovery (insurance proceeds) in respect of damage or destruction of an asset restricted to deductions claimed. Restriction if the asset sold has been subject to a limit. e.g. A motor vehicle acquired for $20,000 is sold for $15,000 Recoupment = 15 000 x 10,000 20,000 = $7,500

    Recoupment is therefore a recovery of an expense

    Recoupment is therefore a recovery of an expense previously allowed as a deduction. Arise when an asset is sold at a price above the ITV. Also arises on recovery of proceeds from an insurance policy for a damaged or destroyed asset. Always restricted to the capital allowances previously granted. Same as restricting the SP of the asset to

    What is a depreciating asset? Australian Taxation Office

    Only the following intangible assets, if they are not trading stock, are specifically included as depreciating assets: in-house software; see In-house software; certain items of intellectual property (patents, registered designs, copyrights and licences of these) mining, quarrying or

    Hendrik Andrl.es *..'*^c»ee

    2021-3-26 · Capital expenditure ~ multiple mining operations 218 Capital expenditure locality of assets created 219 Special capital allowance 221 Recoupment of capital allowances 224 ’ Prospecting expenditure 2.27 Capital expenditure on change of ownership 229 Chapter 10 FARMERS 234 Farming operations 234 Summary of judicial interpretations ~

    Recent developments in Corporate Insolvency Law

    2018-10-12 · recoupment or exoneration, and if so, on what basis? Is there a need for an order of the Court granting power to sell the trust assets, or can such a power be located elsewhere? Further, in what manner must the proceeds arising from the exercise of the right of recoupment or exoneration be distributed amongst creditors?

    MCQ on Royalty Accounts Multiple Choice Questions

    2020-9-12 · Shortworkings recoverable in future are shown in the balance sheet on the assets side so long as they are recoverable. Recoupment of shortworkings can be restricted or unrestricted. True. 12. Lump sum payment for purchase of patent, mine or book is known as Nazrana, Lease premium or Goodwill. Mining industry (c) Construction business (d

    Capital Recovery Definition Investopedia

    2020-1-17 · Capital Recovery: Capial recovery is the earning back of the initial funds put into an investment. Capital recovery must occur before a company can earn a profit on its investment.

    ZIMBABWE CERTIFICATE IN THEORY OF ACCOUNTING

    2018-7-6 · For example, a student may include a recoupment on sale but fail to calculate the related capital gain (i.e. for specified assets). As you practice calculation questions, ask yourself why you failed to deal with items that you omitted from your solution. Once you see the solution, the operation of the relevant sections may

    Namibia Tax PwC

    2015-6-3 · Movable assets and buildings Machinery and movable assets Wear and tear claims are deductible in equal instalments over three consecutive tax years for the Mining Companies (other than diamond mining companies) 3 7.5% Long term insurance companies (40% of gross investment income taxed at 33%) 13.2%

    LEADER IN NURTURING CHARTERED ACCOUNTANTS

    2017-7-10 · A miner’s recoupment is generally the proceeds on disposal A recovery (insurance proceeds) in respect of damage or destruction of an asset restricted to deductions claimed. Restriction if the asset sold has been subject to a limit. e.g. A motor vehicle acquired for $20,000 is sold for $15,000 Recoupment = 15 000 x 10,000 20,000 = $7,500

    2021 Notice of Annual Meeting and Lundin Mining

    2021-4-5 · Recoupment Policy Appendix A76 Management’s Role in Compensation Decision-Making 76 Compensation Consultants 76 Termination and Change defining characteristic of Lundin Mining for over the past half decade. 2020 was a year unlike any other, testing our resolve.

    Benhaus Mining (Proprietary) Limited v Commissioner of the

    2017-11-30 · [57] The parties are in agreement that, if Appellant does not carry on mining operations, the recoupment from the sale of depreciable assets falls to be included in gross income. In terms of the definition of the phrase “ capital expenditure incurred” in section 36(11), proceeds from the disposal of assets included in capital expenditure

    Resource rent taxes and sustainable development: A

    2014-8-1 · We show that mining revenues are over-stated when the depreciation of mineral assets are ignored. • We show that the investment of resource rents offers avenues for sustaining the flow of income. • We argue that the state can grant custody of the rents to mining

    Capital Recovery Definition Investopedia

    2020-1-17 · Capital Recovery: Capial recovery is the earning back of the initial funds put into an investment. Capital recovery must occur before a company can earn a profit on its investment.

    65. Setoff and Recoupment in Bankruptcy -- Setoffs (cont'd

    2015-2-19 · i. setoff and recoupment generally A. Setoff is an equitable right of a creditor to deduct a debt it owes to the debtor from a claim it has against the debtor arising out of a separate transaction. Recoupment differs in that the opposing claims must arise from the same transaction. 4 Lawrence P. King, Collier on Bankruptcy ¶ 553.03 (15th ed

    Corporate income taxes, mining royalties and other

    2015-6-3 · Mining royalties can be imposed at the national level or provincial/state level of government. In most countries, the mining royalty rates vary by type of mineral. In countries where the state or province assesses and collects the royalty, the local royalty rate can vary by

    General depreciation rules capital allowances

    General depreciation rules capital allowances. To calculate your depreciation deduction for most assets you apply the general depreciation rules (unless you're eligible to use instant asset write-off or simplified depreciation for small business).. The general depreciation rules set the amounts (capital allowances) that can be claimed, based on the asset's effective life.

    INCOME TAX ASSESSMENT ACT 1997 SECT 20.30 Tables of

    2021-5-10 · INCOME TAX ASSESSMENT ACT 1997 SECT 20.30 Tables of deductions for which recoupments are assessable (1) This table shows the deductions under the Income Tax Assessment Act 1997 for which recoupments are assessable.. Note: References are to section numbers except where otherwise indicated.

    Royalty Accounts: Meaning and Treatment (With Journal Entries)

    2021-5-23 · Short-workings which are recoupable will appear in the assets side of the Balance Sheet as a current asset. In the above example, Recoupment of Short-working: Usually, in a royalty agreement, a further provision is included about the recoupment of short-working, i.e., the lessor allows the lessee the right to carry forward and set off the short

    HARD-ROCK MINING

    2017-11-8 · tax allowances) involve the enactment of unique recoupment provisions applicable to mining taxpayers only (in essence, on the sale of a mining going concern). In terms of these provisions, the sales of mining assets need to be valued by the Department of Mineral Resources. 9. The MPRDA, which seeks to regulate the mining industry, was enacted

    What is a depreciating asset? Australian Taxation Office

    Only the following intangible assets, if they are not trading stock, are specifically included as depreciating assets: in-house software; see In-house software; certain items of intellectual property (patents, registered designs, copyrights and licences of these) mining, quarrying or

    SSR Mining

    About SSR Mining. SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in

    INCOME TAX ASSESSMENT ACT 1997 SECT 20.30

    2021-5-10 · INCOME TAX ASSESSMENT ACT 1997 SECT 20.30 Tables of deductions for which recoupments are assessable (1) This table shows the deductions under the Income Tax Assessment Act 1997 for which recoupments are assessable.. Note: References are to section numbers except where otherwise indicated.

    Resource rent taxes and sustainable development: A

    2014-8-1 · Historically, agriculture has been Mongolia׳s dominant sector of production. However, since 2002, mining has emerged as an equally dominant sector and since 2010, mining sector output has been in excess of agricultural sector output ().The relative and absolute contraction of the agricultural sector is indicative of the possible emergence of the Dutch Disease.

    General depreciation rules capital allowances

    General depreciation rules capital allowances. To calculate your depreciation deduction for most assets you apply the general depreciation rules (unless you're eligible to use instant asset write-off or simplified depreciation for small business).. The general depreciation rules set the amounts (capital allowances) that can be claimed, based on the asset's effective life.

    Recent developments in Corporate Insolvency Law

    2018-10-12 · recoupment or exoneration, and if so, on what basis? Is there a need for an order of the Court granting power to sell the trust assets, or can such a power be located elsewhere? Further, in what manner must the proceeds arising from the exercise of the right of recoupment or exoneration be distributed amongst creditors?

    Royalty Accounts: Meaning and Treatment (With

    2021-5-23 · Short-workings which are recoupable will appear in the assets side of the Balance Sheet as a current asset. In the above example, Recoupment of Short-working: Usually, in a royalty agreement, a further provision is included about the recoupment of short-working, i.e., the lessor allows the lessee the right to carry forward and set off the short

    Financial Accounting Notes: Royalty Accounts Notes

    2020-9-20 · Type of Assets. Royalty is the consideration payable for the use of special right for both tangible and intangible assets. But rent is the consideration payable for the use of only tangible assets. 2. Basis of Calculation. Royalty is paid either on the basis of output or sale. Rent is paid on the basis of period. 3. Variability

    Tax Tips Every Angel Investor Should Know Forbes

    2014-11-18 · Many businesses are eligible, except for businesses in the service, finance, mining, extraction, restaurant, and hospitality industries, in addition to certain types of real estate businesses.

 

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