MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 3
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MRRT ALLOWANCES
PART 3-7
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TRANSFERRED MINING LOSS ALLOWANCES
Division 100
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Transferred mining loss allowances
Operative provisions
SECTION 100-15
THE AMOUNT OF A TRANSFERRED MINING LOSS ALLOWANCE
100-15(1)
The amount of the miner ' s * transferred mining loss allowance is so much of the sum of the available mining losses as does not exceed the remaining profit.
100-15(2)
In working out the amount of a * transferred mining loss allowance , * mining losses are applied in the order in which they arise, but the miner may choose the order in which to apply mining losses that arise at the same time.
The amount of the miner ' s * transferred mining loss allowance is so much of the sum of the available mining losses as does not exceed the remaining profit.
100-15(2)
In working out the amount of a * transferred mining loss allowance , * mining losses are applied in the order in which they arise, but the miner may choose the order in which to apply mining losses that arise at the same time.
Note:
Division 119 in Schedule 1 to the Taxation Administration Act 1953 is about choices under the MRRT law.
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