MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-3 - ADJUSTING MRRT LIABILITIES  

Division 165 - Starting base adjustments  

Subdivision 165-B - General rules for starting base adjustments  

SECTION 165-30   THE EFFECT OF NEGATIVE STARTING BASE ADJUSTMENTS ON MINING REVENUE  

165-30(1)    
If:

(a) there is a * starting base adjustment , for a mining project interest for an * MRRT year , that is a negative amount; and

(b) there are no * starting base losses for the mining project interest;

the starting base adjustment (expressed as a positive amount) is included in the * mining revenue , for the mining project interest for the MRRT year, of the miner that has the mining project interest.

165-30(2)    
If:

(a) there is a * starting base adjustment , for a mining project interest for an * MRRT year , that is a negative amount; and

(b) there are one or more * starting base losses for the mining project interest; and

(c) the starting base adjustment (expressed as a positive amount) is greater than the sum of those starting base losses;

an amount equal to the difference between the starting base adjustment (expressed as a positive amount) and the sum of those starting base losses is included in the * mining revenue , for the mining project interest for the MRRT year, of the miner that has the mining project interest.