MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)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 80-10
80-10
WHEN A MINER HAS A STARTING BASE ALLOWANCE
A miner has a starting base 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 * starting base losses ( available starting base losses ) that relate to the interest.
A miner has a starting base 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 * starting base losses ( available starting base losses ) that relate to the interest.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.