MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-1 - MINING PROJECT INTERESTS  

Division 115 - Combining mining project interests  

Subdivision 115-C - The effect of combining mining project interests  

SECTION 115-45   ALLOWANCE COMPONENTS ARISING IN PRECEDING MRRT YEARS   Royalty credits

115-45(1)    
Any * royalty credit for a constituent interest for an * MRRT year preceding the combining year is taken to be a royalty credit for the combined interest for that year. Pre-mining losses

115-45(2)    
If, for an * MRRT year preceding the combining year, there is a * pre-mining loss for at least one of the constituent interests:

(a) all of the pre-mining losses for the constituent interests for the year are taken to be a single pre-mining loss for the combined interest for that MRRT year; and

(b) the amount of the single pre-mining loss is taken to be the sum of those pre-mining losses. Mining losses

115-45(3)    
If, for an * MRRT year preceding the combining year, there is a * mining loss for at least one of the constituent interests:

(a) all of the mining losses for the constituent interests for the year are taken to be a single mining loss for the combined interest for that MRRT year; and

(b) the amount of the single mining loss is taken to be the sum of those mining losses. Starting base losses

115-45(4)    
If, for an * MRRT year preceding the combining year, there is a * starting base loss for at least one of the constituent interests:

(a) all of the starting base losses for the constituent interests for the year are taken to be a single starting base loss for the combined interest for that MRRT year; and

(b) the amount of the single starting base loss is taken to be the sum of those starting base losses.

115-45(5)    
However, subsection (4) does not apply in circumstances covered by section 115-50 .