MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
This section applies if, on one or more occasions during an * MRRT year , section 165-35 applies to a miner ceasing to * hold a part of a * starting base asset relating to a mining project interest that a miner has.
165-45(2)
In working out under subsection 80-40(3) or (4) any reduction in an amount of a * starting base loss for the mining project interest for the * MRRT year or a later MRRT year, treat the starting base asset as not including, after the cessation, the disposed asset (within the meaning of section 165-35 ) relating to that cessation.
Note:
Reductions happen under subsection 80-40(3) or (4) if the asset is used, installed for use, or constructed for use for a purpose other than carrying on upstream mining operations relating to the mining project interest, or in connection with excluded expenditure.
Example:
Using the example in subsection 165-40(1) , the miner ' s starting base loss would be unaffected if, after the sale of the 75 % interest in the truck, the purchaser used the truck for 75 % of the time for a purpose that is entirely unrelated to the upstream mining operations for the mining project interest.
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