MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-5 - ACCOUNTING FOR MRRT  

Division 200 - Simplified MRRT method  

Operative provisions  

SECTION 200-5   200-5   EFFECT OF THE SIMPLIFIED MRRT METHOD  
If a miner chooses, for an * MRRT year , to use the simplified MRRT method:


(a) the miner ' s * MRRT liability for each mining project interest the miner has for the year is zero; and


(b) all * allowance components that relate to a mining project interest the miner has, or a * pre-mining project interest the miner * holds , are extinguished; and


(c) each mining project interest that:


(i) the miner has during the year; or

(ii) * originates from a pre-mining project interest the miner held during the year;

is taken, despite section 80-20 , to have no * starting base loss for any later MRRT year.




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