Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 7   Miscellaneous amendments

Part 1   Resource rent taxation

Minerals Resource Rent Tax Act 2012

14   Subparagraphs 80-25(3)(b)(i) and (ii)

Repeal the subparagraphs, substitute:

(i) a valid choice has not been made under section 85-5 specifying the valuation approach for the mining project interest; or

(ii) a starting base assessment (within the meaning of subitem 15(3) of Schedule 4 to the Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012) does not cover the property or right; or

(iii) immediately before 1 July 2012, the property or right was not *held by the *entity that, at that time, had the mining project interest (or held the *pre-mining project interest from which the mining project interest *originated); or

(iv) the property or right did not exist before 1 July 2012.

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