MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-2 - PRE-MINING PROJECT INTERESTS  

Division 155 - Ending pre-mining project interests  

Operative provisions  

SECTION 155-25   EXTINGUISHING ALLOWANCE COMPONENTS  

155-25(1)    
If the * termination day for a * pre-mining project interest happens in a particular * MRRT year , an * allowance component relating to the pre-mining project interest:

(a) is extinguished if it relates to that MRRT year or an earlier MRRT year, except to the extent that it is applied in working out, for that MRRT year:

(i) in relation to the pre-mining project interest, an amount, for the purposes of section 140-10 , corresponding to an * MRRT allowance ; or

(ii) an MRRT allowance for any mining project interest; and

(b) is extinguished if it relates to a later MRRT year, except to the extent that it is applied in working out, for that later MRRT year:

(i) in relation to the pre-mining project interest, an amount, for the purposes of section 140-10 , corresponding to an * MRRT allowance ; or

(ii) an MRRT allowance for any mining project interest.

155-25(2)    
This section does not apply if the * termination day happens because a mining project interest * originates from the * pre-mining project interest .