LoginSIMPLIFY MINING TAX DISCLOSURES
ONESOURCE Mining Tax is an automated reporting tool that enables you to quickly generate the disclosures required to meet new reporting obligations for the Minerals Resources Rent Tax.
The new mining tax rules are complex, including the grouping of mining project interests, tracking of expenditures, uplift factors, and ordering of deductions. ONESOURCE Mining Tax can make compliance easier.
To confirm accuracy, ONESOURCE Mining Tax's inbuilt logic has been reviewed by a Big 4 accounting firm. You're ensured easy navigation through the technical complexities of mining tax law and increased efficiency in the calculation of transfers and offsets.
EFFICIENCY
| Feature | How It Benefits You |
| Dynamic data transfer | Save time and increase accuracy when preparing your reports as amounts entered for each mining project interest are dynamically transferred as required by the grouping rules. |
| Data import | Save time by importing amounts from your general ledger or other source systems to populate your calculations. |
| Electronic lodgement | Save time and obtain quicker refunds by lodging your returns electronically with the Australian Taxation Office. |
CONTROL
| Feature | How It Benefits You |
| Strong audit trail |
Calculations provide a full audit trail from the summary numbers in reports to data in your source systems. |
| Inbuilt validations | Data is verified upon populating the calculations to prevent you from lodging incorrect data and to flag inconsistencies in information. |
| Review by Big 4 | The quality and integrity of our calculations and reports is maintained through regular review by a Big 4 accounting firm. |
FLEXIBILITY
| Feature | How It Benefits You |
| Grouping features | Our flexible grouping module and calculation templates allow you to easily handle complexities involved in different grouping rules such as integration, combination, and consolidation. |
| Life of mine events | Easily handle changes resulting from the mining lifecycle such as splitting of mining project interests and interim periods. |
| Regular content updates | Calculation templates are updated on a regular basis to enable you to easily keep up to date in changes to reporting requirements. |
