Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 (14 of 2012)

Schedule 3   Amendment of other Acts

Part 1   Amendments commencing at the same time as the Minerals Resource Rent Tax Act 2012 commences

Income Tax Assessment Act 1997

12   Subsection 40-72(1) (formula)

Repeal the formula, substitute:

*Base value x (Days held / 365) x (200% / Asset's *effective life)