MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
The choice cannot specify the book value approach unless:
(a) during the 18 months preceding 2 May 2010, an * entity that had the mining project interest, or * held the * pre-mining project interest , in that period prepared a financial report relating to the interest in accordance with * accounting standards ; and
(b) the report relates to a financial period that ended in the 18 months preceding 2 May 2010; and
(c) the report has been audited in accordance with * auditing standards .
85-10(2)
If, during the 18 months preceding 2 May 2010, the * entity was a part of a consolidated entity (within the meaning of the Corporations Act 2001 ), for the purposes of paragraph (1)(a), treat any financial report for the consolidated entity, relating to the mining project interest, as a report that the entity prepared.
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