MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
The objects of this Division are:
(a) to recognise a miner ' s net expenditure (including exploration expenditure) incurred, before a * production right is granted, in identifying and evaluating whether * taxable resources could be extracted from an area; and
(b) to provide an uplift for unapplied * pre-mining losses , which compensates for:
(i) the delay where pre-mining losses are applied in a later year; and
(ii) the risk that pre-mining losses may not be able to be applied in a later year.
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