MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 2 - GENERAL LIABILITY RULES  

PART 2-1 - CORE RULES  

Division 10 - Core rules  

SECTION 10-10   10-10   MRRT ALLOWANCES  
The MRRT allowances , and the order in which they are applied in working out * MRRT liabilities , are as follows:


MRRT allowances
Item Order of applying the MRRT allowances See :
1 * Royalty allowance Part 3-1
2 * Transferred royalty allowance Part 3-2
3 * Pre-mining loss allowance Part 3-3
4 * Mining loss allowance Part 3-4
5 * Starting base allowance Part 3-5
6 * Transferred pre-mining loss allowance Part 3-6
7 * Transferred mining loss allowance Part 3-7

Note:

MRRT allowances are made up of allowance components, up to the amount of the relevant mining profit.




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