MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)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 80-15
THE AMOUNT OF A STARTING BASE ALLOWANCE
80-15(1)
The amount of the miner ' s * starting base allowance is so much of the sum of the miner ' s available starting base losses as does not exceed the remaining profit.
80-15(2)
In working out the amount of a * starting base allowance , * starting base losses are applied in the order in which they arise.
The amount of the miner ' s * starting base allowance is so much of the sum of the miner ' s available starting base losses as does not exceed the remaining profit.
80-15(2)
In working out the amount of a * starting base allowance , * starting base losses are applied in the order in which they arise.
Note 1:
If an available starting base loss cannot be wholly applied in an MRRT year, the unapplied amount can be carried forward: see section 80-45 .
Note 2:
Starting base losses can be affected by starting base adjustments under Division 165 .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.