MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-4 - MINING LOSS ALLOWANCES  

Division 75 - Mining loss allowances  

Operative provisions  

SECTION 75-10  

75-10   WHEN A MINER HAS A MINING LOSS ALLOWANCE  
A miner has a 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 interest for the year exceeds the sum of all the * higher ranking allowances (if any) that the miner has for the interest for the year; and

(b) there are one or more * mining losses ( available mining losses ) that relate to the interest.