MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
If a single mining project interest * originates from a * pre-mining project interest and relates to the whole of the * project area for the pre-mining project interest:
(a) the origination is taken to be a * pre-mining project transfer ; and
(b) for the purposes of paragraph (a), the * MRRT law applies:
(i) in the same way in relation to the mining project interest as it applies in relation to a pre-mining project interest that exists after a pre-mining project transfer; and
(ii) in the same way in relation to the miner that has the mining project interest just after it so originates as it applies in relation to an * entity that * holds a pre-mining project interest after a pre-mining project transfer.
145-30(2)
In applying this Division for the purposes of subsection (1) , disregard subsection 145-15(3) .
145-30(3)
If, because of the application of this Division, a mining project interest has, for the part of the * MRRT year before it * originates from a * pre-mining project interest :
(a) * pre-mining revenue that exceeds * pre-mining expenditure - the excess is treated as * pre-mining profit of the pre-mining project interest for the MRRT year; or
(b) pre-mining expenditure that exceeds pre-mining revenue - the excess is treated as a * pre-mining loss of the pre-mining project interest for the MRRT year.
Note:
For the treatment of pre-mining profits, see section 140-20 . For the treatment of pre-mining losses, see Divisions 70 and 95 .
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