Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 7   Miscellaneous amendments

Part 1   Resource rent taxation

Minerals Resource Rent Tax Act 2012

43   At the end of subsection 150-15(2)

Add:

; (e) if the new explorer is the same *entity as the original explorer - the amount of the *pre-mining loss cap (if any) for the original interest.

Note: If the new explorer is not the same entity as the original explorer, a new pre-mining loss cap arises for the new interest under section 95-30.