MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-1 - MINING PROJECT INTERESTS  

Division 115 - Combining mining project interests  

Subdivision 115-B - When mining project interests are combined  

SECTION 115-25  

115-25   TRANSFERABILITY OF PRE-MINING LOSSES  
An existing pre-mining loss that relates to one of the constituent interests complies with this section if:

(a) under section 95-20 (available pre-mining losses), the existing pre-mining loss could be applied in working out a * transferred pre-mining loss allowance for each of the other constituent interests for the * MRRT year if:

(i) the year were to end at the combining time; and

(ii) subsection 95-20(4) were disregarded; and

(aa) section 95-25 (cap on available pre-mining losses) does not wholly or partly prevent the existing pre-mining loss from being so applied; and

(b) in a case where one or more of the constituent interests is a combined interest under a previous application of this Division - wholly or partly prevent the existing pre-mining loss from being so applied.

Note:

Section 95-25 (cap on available pre-mining losses) may impose additional limits on the availability of pre-mining losses under section 95-20 .