umber of years based on the cost or value of an asset. Section 11(e) is one such specific provision and provides for an allowance on the value of any machinery, plant, …

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 …

Special Mining Operations. 22ndSchedule : Residential Unit erected on or after 1stJanuary 2018 used for housing the holder's employees. Para 6 (2) (f) (v) The limit is pegged at US$25,000.00 or ZiG equivalent. Passenger motor vehicle purchased on or after 1stJanuary 2009. Para 6 (2) (g) (v) The limit is pegged at US$10,000.00 or ZiG equivalent

It can also refer to recouping invested funds through the disposition of assets. The time value of money is central to capital recovery, as a dollar today is generally worth more than a dollar ...

When mining assets, such as drilling equipment or transport infrastructure, show signs of diminished future benefits, it's vital for an entity to assess for potential impairment. The finance department must consider current market conditions and projected cash flows to determine if the carrying amount of the asset exceeds its recoverable ...

Minimum Rent is the amount that has to be paid by the lessee to the lessor whether or not he has derived benefit from the asset. Hence, it is also called Dead Rent or Rock Rent. Lessor may allow the lessee the right to recoupment of short-workings. In this case, the lessor will receive only the minimum rent until the period of recoupment.

Welcome! Welcome to Mining Assets, an online register of exploration tenements and mining projects for sale, joint venture and farm in. Learn More Wanted: If you are searching for a specific type of project, advertising on Mining Assets can help you find it. The below wanted ads are receiving numerous projects which vendors wouldn't otherwise advertise.

approach" (i.e., the sum of NC recoupment charges for individual components) will be used to determine the NC recoupment charge for the sale of the entire system. 2. The NC recoupment charge will not apply when a waiver has been approved by the USD(P), in accordance with this directive, or when sales are financed with USG funds made …

For example, a landowner has rights over the mine on his property, and the book's writer is entitled to rights over the book. If the rights are sold, the owner gets paid for this, known as royalty. ... A Lessee is an individual who uses the assets of the creator or owner as a payment for the use of such an asset. Examples of Lessees include ...

The main benefit of recoupment is that it allows people and companies to recover money they are owed, which can be especially helpful in situations where the other party is unwilling or unable to repay the debt. Recoupment can also help to offset losses and maintain financial stability. How is recoupment different from other legal concepts?

In mining there are no capital allowances (SIA & Wear & Tear) granted on business assets, instead capital redemption allowance (CRA) is granted. CRA is not granted on individual assets but on total capital expenditure. Therefore it is not possible to know the Income Tax Value of an asset after its first the year.

Recoupment & Scrapping allowances . Section 14(4) This discretion was removed from the legislation and therefore the taxpayer has to recoup at the market value of the assets disposed / taken out of use. Practical implementation . Previously a taxpayer could apply to the Minister to recoup at a lower value. This could typically be used in group

When mining assets, such as drilling equipment or transport infrastructure, show signs of diminished future benefits, it's vital for an entity to assess for potential impairment. The finance department must consider current market conditions and …

Recoupment is a common law principle that dates back to the medieval era. The term is often used in the legal and financial contexts, and it is defined as the process of deducting losses or expenses from a sum of money owed, rather than paying the full amount.

Basics of US Mining Accounting Christie Greve-Senior Associate Alex Mayberry-Senior Associate Molly Hepburn - Manager Benita Pulins - Managing Director. …

The flexibility and profit-sharing mechanism of mining royalty finance is particularly attractive as it allows mining companies, at various stages of their life cycle, to access up-front funding as a substitute to an equity raise to fund feasibility studies or debt in order to fund the development and construction of an asset.

It mines and processes platinum group metals in Zimbabwe under a special mining lease issued in terms of the Mines and Minerals Act [Chapter 21:05]. In terms of the Income Tax Act, holders of a special mining lease were subject to a corporate income tax rate of 15% against a general mining corporate tax rate of 25%. In addition such …

Mining Lease (ML) - granted for a term not exceeding 20 years and renewable for terms of up to 10 years. Normally granted for small to medium scale, and some alluvial mine developments. The holder must comply with approved proposals for development and other prescribed mining lease ... capital assets and amortisation of exploration expenses.

Capital recovery is a term that has several related meanings in the world of business. It is, primarily, the earning back of the initial funds put into an investment. When an investment is first ...

Assets acquired for shares issued. When assets are acquired by a company in return for shares issued to the seller, the purchaser of the assets is deemed to have incurred expenditure equal to the market value of the shares immediately after acquisition. Special rules apply in the case of a mismatch in the value of the shares and assets.

In other words, the mining company will be taxed on the recoupment of the 100 per cent upfront deduction previously granted in respect of the mining asset and included in the …

For example, X leased a mine from Y at a Minimum Rent of Rs. 12,000 p.a. merging a royalty of Rs. 2 per ton of coal raised. Now, if the quantity raised for the 1st year amounted to 4,000 tons and that of 2nd year 8,000 tons, in that case, X will have to pay Rs. 12,000 for the 1st year to Y, i.e., the Minimum Rent [since actual royalty (8,000 ...

– or cancellation or reduction of all or part of the debt incurred in acquiring the asset, whether by prescription or in any other way. This rule does not apply in the case of a pre-valuation date asset. The capital gain or loss is determined from scratch taking into account the recovery or recoupment of the base cost.

A depreciating asset is an asset that has a limited effective life and can reasonably be expected to decline in value over the time it is used. Some assets are specifically excluded from the definition. ... Any recoupment of the expenditure may be included in your assessable income. If the expenditure on water facilities is deductible …

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 ¶ …

Recoupment is calculated as selling price, which is limited to the cost price, minus the tax value where the tax value figure is the cost price of the asset minus all wear and tear. …

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 ...

Mining forms one of the leading industries in South Africa, playing a vital role in the economy. Due to the complexity of the South African tax laws and the impact thereof on the industry, its is necessary to have a thorough understanding of not only the tax legislation, but also the specific needs of the South African mining industry.

LU9: TAX CONSEQUENCES WHEN DISPOSING OF DEPRECIABLE ASSETS (EXCLUDING CGT) When a taxpayer disposes of a depreciable asset or if the depreciable asset is damaged beyond economic repair or if the depreciable asset becomes obsolete, we will either calculate a recoupment or an additional allowance, known as the …

acquisition of the asset, that is, the cash cost excludingfinance charges. The revaluation of an asset would, for example, have no effect on the value of the asset for purposes of determining the amount of the allowance. 1. Examples of exceptions to this general rule are assets acquired by the taxpayer by donation, inheritance from a