MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
A * pre-mining loss can be applied in working out a * pre-mining loss allowance for the mining project interest for the year if the mining project interest * originates from the * pre-mining project interest to which the pre-mining loss relates.
Note:
Once a pre-mining loss has been fully applied, it ceases to be a pre-mining loss (see subsection 70-30(2) ), and therefore cannot be applied in working out a pre-mining loss allowance.
70-20(2)
A mining project interest originates from a * pre-mining project interest if:
(a) the * termination day for the pre-mining project interest happened; or
(b) the pre-mining project interest ceased to apply to the * project area , or a part of the project area, for the mining project interest;
because the mining project interest started to apply to the project area, or a part of the project area, for the pre-mining project interest.
Note:
A mining project interest may originate from more than one pre-mining project interest.
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