MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
An existing pre-mining loss that relates to one of the constituent interests complies with this section if:
(a) under section 95-20 (available pre-mining losses), the existing pre-mining loss could be applied in working out a * transferred pre-mining loss allowance for each of the other constituent interests for the * MRRT year if:
(i) the year were to end at the combining time; and
(ii) subsection 95-20(4) were disregarded; and
(aa) section 95-25 (cap on available pre-mining losses) does not wholly or partly prevent the existing pre-mining loss from being so applied; and
(b) in a case where one or more of the constituent interests is a combined interest under a previous application of this Division - wholly or partly prevent the existing pre-mining loss from being so applied.
Note:
Section 95-25 (cap on available pre-mining losses) may impose additional limits on the availability of pre-mining losses under section 95-20 .
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