MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-7 - TRANSFERRED MINING LOSS ALLOWANCES  

Division 100 - Transferred mining loss allowances  

Operative provisions  

SECTION 100-10   100-10   WHEN A MINER HAS A TRANSFERRED MINING LOSS ALLOWANCE  
A miner has a transferred mining loss allowance for a mining project interest for an * MRRT year if:


(a) there is an amount (a remaining profit ) by which the miner ' s * mining profit for the interest for the year exceeds the sum of all the * higher ranking allowances (if any) that the miner has for the interest for the year; and


(b) there are one or more * mining losses ( available mining losses ) that, under section 100-20 , can be applied in working out the transferred mining loss allowance for the interest for the year.




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