MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-5 - STARTING BASE ALLOWANCES  

Division 80 - Starting base allowances  

Subdivision 80-B - When a miner has a starting base allowance  

SECTION 80-20   WHEN A MINER HAS A STARTING BASE LOSS  

80-20(1)    
A starting base loss arises for a mining project interest for an * MRRT year if at the same time during the year, the same miner:

(a) has the mining project interest; and

(b) * holds a * starting base asset relating to the mining project interest.

80-20(2)    
The * starting base loss ceases to be a starting base loss if it has been fully applied in working out one or more * starting base allowances for the mining project interest.