MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-5 - STARTING BASE ALLOWANCES  

Division 80 - Starting base allowances  

Subdivision 80-C - Starting base assets  

SECTION 80-30   TREATING STARTING BASE ASSETS AS A SINGLE STARTING BASE ASSET  

80-30(1)    
If, under Division 85 , the market value approach is the valuation approach for a mining project interest, treat as a single * starting base asset any 2 or more of the following that would (apart from this subsection) be starting base assets relating to the mining project interest:

(a) rights and interests that constitute the mining project interest;

(b) any * mining, quarrying or prospecting information , or rights to such information, relating to those rights and interests;

(c) goodwill relating to those rights and interests;

(d) any improvement to land (but not a fixture) in the * project area for the mining project interest.

80-30(2)    
However, if:

(a) the mining project interest is, because of section 115-10 , a combined interest; and

(b) a constituent interest (as mentioned in that section) of the combined interest forms part of the combined interest only because a valid choice has been made under section 255-20 (downstream integration);

section 80-25 and subsection (1) of this section apply to the constituent interest as if it were a separate mining project interest, and applies to the combined interest as if it did not include the constituent interest.