MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
A pre-mining loss arises for an * MRRT year if:
(a) during the year, an * entity * holds a * pre-mining project interest ; and
(b) the entity ' s * pre-mining expenditure for the interest for the year exceeds the entity ' s * pre-mining revenue for the interest for the year.
70-30(2)
The pre-mining loss ceases to be a pre-mining loss if it has been fully applied in working out any of the following:
(a) a * pre-mining loss allowance for a mining project interest that * originates from the * pre-mining project interest ;
(b) * transferred pre-mining loss allowances for other mining project interests.
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