MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)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 80-10  

80-10   WHEN A MINER HAS A STARTING BASE ALLOWANCE  
A miner has a starting base allowance for a mining project interest for an * MRRT year if:

(a) there is an amount (a remaining profit ) by which the miner ' s * mining profit for the interest for the year exceeds the sum of all the * higher ranking allowances (if any) that the miner has for the interest for the year; and

(b) there are one or more * starting base losses ( available starting base losses ) that relate to the interest.