MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-5 - STARTING BASE ALLOWANCES  

Division 80 - Starting base allowances  

Subdivision 80-B - When a miner has a starting base allowance  

SECTION 80-20   WHEN A MINER HAS A STARTING BASE LOSS  

80-20(1)  
A starting base loss arises for a mining project interest for an * MRRT year if at the same time during the year, the same miner:


(a) has the mining project interest; and


(b) * holds a * starting base asset relating to the mining project interest.

80-20(2)  
The * starting base loss ceases to be a starting base loss if it has been fully applied in working out one or more * starting base allowances for the mining project interest.




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