MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 4
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SPECIALIST LIABILITY RULES
PART 4-3
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ADJUSTING MRRT LIABILITIES
Division 165
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Starting base adjustments
Subdivision 165-B
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General rules for starting base adjustments
SECTION 165-20
STARTING BASE ADJUSTMENTS
165-20(1)
If there is, for an * MRRT year , at least one * starting base adjustment amount for a * starting base asset relating to a mining project interest, the starting base adjustment for the mining project interest for the MRRT year is the amount obtained by subtracting:
(a) all of those starting base adjustment amounts (if any) arising under subsection 165-10(1) ; from
(b) all of those starting base adjustment amounts (if any) arising under subsection 165-10(2) .
165-20(2)
The * starting base adjustment may be a negative amount, but there is no starting base adjustment if the amount worked out under subsection (1) is zero.
If there is, for an * MRRT year , at least one * starting base adjustment amount for a * starting base asset relating to a mining project interest, the starting base adjustment for the mining project interest for the MRRT year is the amount obtained by subtracting:
(a) all of those starting base adjustment amounts (if any) arising under subsection 165-10(1) ; from
(b) all of those starting base adjustment amounts (if any) arising under subsection 165-10(2) .
165-20(2)
The * starting base adjustment may be a negative amount, but there is no starting base adjustment if the amount worked out under subsection (1) is zero.
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