MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]
The MRRT allowances , and the order in which they are applied in working out * MRRT liabilities , are as follows:
|Item||Order of applying the MRRT allowances||See :|
|1||* Royalty allowance||Part 3-1|
|2||* Transferred royalty allowance||Part 3-2|
|3||* Pre-mining loss allowance||Part 3-3|
|4||* Mining loss allowance||Part 3-4|
|5||* Starting base allowance||Part 3-5|
|6||* Transferred pre-mining loss allowance||Part 3-6|
|7||* Transferred mining loss allowance||Part 3-7|
MRRT allowances are made up of allowance components, up to the amount of the relevant mining profit.
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