MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-1 - MINING PROJECT INTERESTS  

Division 115 - Combining mining project interests  

Subdivision 115-B - When mining project interests are combined  

SECTION 115-10   MINING PROJECT INTERESTS MAY BE TREATED AS THE SAME MINING PROJECT INTEREST  

115-10(1)    
For the purposes of the * MRRT law (other than this Division and Division 255 ), 2 or more mining project interests ( constituent interests ) are taken to be the same mining project interest (the combined interest ) from a particular time (the combining time ) during an * MRRT year if:

(a) each of the constituent interests is * integrated with each of the other constituent interests; and

(b) each * royalty credit relating to any of the constituent interests complies with section 115-20 ; and

(c) each amount (an existing pre-mining loss ) that:

(i) is a * pre-mining loss relating to any of the constituent interests; or

(ii) if the MRRT year were to end at the combining time, would be a pre-mining loss relating to any of the constituent interests;

complies with section 115-25 ; and

(d) each amount (an existing mining loss ) that:

(i) is a * mining loss relating to any of the constituent interests; or

(ii) if the MRRT year were to end at the combining time, would be a mining loss relating to any of the constituent interests;

complies with section 115-30 ; and

(e) each * starting base loss , or * starting base asset that has a * base value greater than zero, relating to any of the constituent interests complies with section 115-35 .

Note:

For when interests are integrated , see Division 255 .

115-10(2)    
Any of the constituent interests may be mining project interests to which this section has already applied.

115-10(3)    
However, if the * suspension day for a mining project interest has happened, the mining project interest cannot be a constituent interest.