MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-5 - STARTING BASE ALLOWANCES  

Division 80 - Starting base allowances  

Subdivision 80-B - When a miner has a starting base allowance  

SECTION 80-15   THE AMOUNT OF A STARTING BASE ALLOWANCE  

80-15(1)  
The amount of the miner ' s * starting base allowance is so much of the sum of the miner ' s available starting base losses as does not exceed the remaining profit.

80-15(2)  
In working out the amount of a * starting base allowance , * starting base losses are applied in the order in which they arise.

Note 1:

If an available starting base loss cannot be wholly applied in an MRRT year, the unapplied amount can be carried forward: see section 80-45 .

Note 2:

Starting base losses can be affected by starting base adjustments under Division 165 .




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