MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-3 - PRE-MINING LOSS ALLOWANCES  

Division 70 - Pre-mining loss allowances  

Subdivision 70-D - Amounts of pre-mining losses  

SECTION 70-45  

70-45   PRE-MINING LOSSES FOR THE MRRT YEARS IN WHICH THEY ARISE  
In the * MRRT year in which a * pre-mining loss arises, the amount of the pre-mining loss is the difference between:

(a) the * entity ' s * pre-mining expenditure , for the * pre-mining project interest to which the pre-mining loss relates, for the year; and

(b) the entity ' s * pre-mining revenue for that pre-mining project interest for the year.