MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 3
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MRRT ALLOWANCES
PART 3-6
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TRANSFERRED PRE-MINING LOSS ALLOWANCES
Division 95
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Transferred pre-mining loss allowances
Operative provisions
SECTION 95-10
95-10
WHEN A MINER HAS A TRANSFERRED PRE-MINING LOSS ALLOWANCE
A miner has a transferred pre-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 mining project interest for the year exceeds the sum of all the * higher ranking allowances (if any) that the miner has for the mining project interest for the year; and
(b) there are one or more * pre-mining losses ( available pre-mining losses ) that, under section 95-20 , can be applied in working out a transferred pre-mining loss allowance for the interest for the year.
A miner has a transferred pre-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 mining project interest for the year exceeds the sum of all the * higher ranking allowances (if any) that the miner has for the mining project interest for the year; and
(b) there are one or more * pre-mining losses ( available pre-mining losses ) that, under section 95-20 , can be applied in working out a transferred pre-mining loss allowance for the interest for the year.
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