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The first $100,000 of the combined value of the following minerals (threshold minerals) sold, disposed of or used from an operation during a financial year are exempt from royalty.
- Other precious stones
- Rare earths
A mineral is also exempt if there is no specified rate for it in the Mineral Resources Regulation.
If more than one of the above minerals has been sold, disposed of or used during the financial year, you may choose the mineral to apply the $100,000 threshold to. Any remaining balance of the threshold may be applied against another of the threshold minerals.
This exemption is for:
- a total of $100,000 for all threshold minerals sold, disposed of or used during the financial year, not $100,000 for each mineral
- the first $100,000 of value, not the first $100,000 of royalty.