MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 3 - MRRT ALLOWANCES  

PART 3-3 - PRE-MINING LOSS ALLOWANCES  

Division 70 - Pre-mining loss allowances  

Guide to Division 70  

SECTION 70-1   WHAT THIS DIVISION IS ABOUT  

Pre-mining loss allowances enable expenditure (such as exploration expenditure) incurred during the period before a mining project interest comes into existence to reduce a miner ' s MRRT liability for a mining project interest for an MRRT year.

Pre-mining losses that are unapplied at the end of the MRRT year in which they arise are uplifted and may be able to be applied in later years.

Note:

Pre-mining losses that are not applied to a pre-mining loss allowance may be applied to transferred pre-mining loss allowances for other mining project interests (see Division 95 ).




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.