MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-3 - PRE-MINING LOSS ALLOWANCES  

Division 70 - Pre-mining loss allowances  

Subdivision 70-D - Amounts of pre-mining losses  

SECTION 70-50   70-50   PRE-MINING LOSSES FOR LATER MRRT YEARS  
In a later * MRRT year , the amount of the * pre-mining loss is:

Pre-mining losses

where:

previous amount of the loss
is the amount of the * pre-mining loss for the preceding * MRRT year .

previous application of the loss
is the sum of the amounts of those parts (if any) of the * pre-mining loss that have been applied in working out, for the preceding * MRRT year , any of the following:


(a) a * pre-mining loss allowance for a mining project interest that the * entity has;


(b) one or more * transferred pre-mining loss allowances for other mining project interests.

uplift factor
is one of the following:


(a) if the later year is one of the 10 * MRRT years after the MRRT year in which the * pre-mining loss arose:


* Long term bond rate for the * MRRT year preceding the later year + 1.07


(b) if the later year is not one of the 10 MRRT years after the MRRT year in which the pre-mining loss arose:


* Long term bond rate for the * MRRT year preceding the later year + 1




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