MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
CHAPTER 3
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MRRT ALLOWANCES
PART 3-3
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PRE-MINING LOSS ALLOWANCES
Division 70
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Pre-mining loss allowances
Subdivision 70-D
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Amounts of pre-mining losses
SECTION 70-45
70-45
PRE-MINING LOSSES FOR THE MRRT YEARS IN WHICH THEY ARISE
In the * MRRT year in which a * pre-mining loss arises, the amount of the pre-mining loss is the difference between:
(a) the * entity ' s * pre-mining expenditure , for the * pre-mining project interest to which the pre-mining loss relates, for the year; and
(b) the entity ' s * pre-mining revenue for that pre-mining project interest for the year.
In the * MRRT year in which a * pre-mining loss arises, the amount of the pre-mining loss is the difference between:
(a) the * entity ' s * pre-mining expenditure , for the * pre-mining project interest to which the pre-mining loss relates, for the year; and
(b) the entity ' s * pre-mining revenue for that pre-mining project interest for the year.