MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-2 - PRE-MINING PROJECT INTERESTS  

Division 140 - Pre-mining profits and royalty credits  

Subdivision 140-A - Pre-mining profits  

SECTION 140-5   PRE-MINING PROFITS  

140-5(1)    
A pre-mining profit arises for an * MRRT year if:

(a) during the year, an * entity * holds a * pre-mining project interest ; and

(b) the entity ' s * pre-mining revenue for the interest for the year exceeds the entity ' s * pre-mining expenditure for the interest for the year.

140-5(2)    
In that year, the amount of the * pre-mining profit is the amount of the excess.