MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-3 - ADJUSTING MRRT LIABILITIES  

Division 165 - Starting base adjustments  

Subdivision 165-C - Partial disposal of starting base assets  

SECTION 165-50  

165-50   BASE VALUE FOR THE NEXT MRRT YEAR  
Section 90-30 or 90-50 applies in working out the * base value of the * starting base asset for the next * MRRT year as if the last part of the entire MRRT year for which a * decline in value was worked out under section 165-40 were the preceding MRRT year.

Example:

Using the example in subsection 165-40(1) , the preceding base value of the starting base asset for the purposes of section 90-50 is $ 2.375 million ( $ 9.5 million − $ 7.125 million).

If the market value approach is the applicable valuation approach, the base value of the starting base asset for the next * MRRT year would, under section 90-50, be $ 1.75 million ( $ 2.375 million − $ 625,000).