Mineral tax for coal and other mines
Coal and other mines include all mines that aren’t quarries and placer gold mines. If you operate a coal or other mine you file your taxes annually using the mineral tax return and pay monthly instalments based on an estimate of your tax liability for the mine’s fiscal year.
You pay mineral tax when your mine is more than covering current operating costs. The amount of tax you pay depends on if you’ve recovered the capital invested in your mine.
Your Cumulative Expenditure Account (CEA) tracks the capital you haven’t yet recovered. While you have a balance in your CEA and still have capital to recover, you pay a 2% Net Current Proceeds (NCP) Tax.