MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 4 - SPECIALIST LIABILITY RULES  

PART 4-3 - ADJUSTING MRRT LIABILITIES  

Division 165 - Starting base adjustments  

Subdivision 165-B - General rules for starting base adjustments  

SECTION 165-20   STARTING BASE ADJUSTMENTS  

165-20(1)  
If there is, for an * MRRT year , at least one * starting base adjustment amount for a * starting base asset relating to a mining project interest, the starting base adjustment for the mining project interest for the MRRT year is the amount obtained by subtracting:


(a) all of those starting base adjustment amounts (if any) arising under subsection 165-10(1) ; from


(b) all of those starting base adjustment amounts (if any) arising under subsection 165-10(2) .

165-20(2)  
The * starting base adjustment may be a negative amount, but there is no starting base adjustment if the amount worked out under subsection (1) is zero.




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