MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-6 - TRANSFERRED PRE-MINING LOSS ALLOWANCES  

Division 95 - Transferred pre-mining loss allowances  

Operative provisions  

SECTION 95-10  

95-10   WHEN A MINER HAS A TRANSFERRED PRE-MINING LOSS ALLOWANCE  
A miner has a transferred pre-mining loss allowance for a mining project interest for an * MRRT year if:

(a) there is an amount (a remaining profit ) by which the miner ' s * mining profit for the mining project interest for the year exceeds the sum of all the * higher ranking allowances (if any) that the miner has for the mining project interest for the year; and

(b) there are one or more * pre-mining losses ( available pre-mining losses ) that, under section 95-20 , can be applied in working out a transferred pre-mining loss allowance for the interest for the year.