Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 7   Miscellaneous amendments

Part 1   Resource rent taxation

Minerals Resource Rent Tax Act 2012

37   Subsection 125-10(4) (note)

Repeal the note, substitute:

Note 1: If the new miner is not the same entity as the original miner, a new pre-mining loss cap arises for the new interest under section 95-30.

Note 2: If the original miner's MRRT year starts before a new miner's MRRT year, the effect of this provision is that amounts from before the start of the new miner's MRRT year are taken into account for the new miner in the new miner's MRRT year.