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

30   At the end of section 115-15

Add:

(3) However, if:

(a) an existing pre-mining loss does not comply with section 115-25 because section 95-25 or 115-55 partly prevents the existing pre-mining loss from being applied in working out a *transferred pre-mining loss allowance; and

(b) there is no other reason why the loss does not comply with section 115-25;

the loss is extinguished under paragraph (2)(a) only to the extent that section 95-25 or 115-55 prevents the existing pre-mining loss from being so applied.