MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
Section 90-30 or 90-50 applies in working out the * base value of the * starting base asset for the next * MRRT year as if the last part of the entire MRRT year for which a * decline in value was worked out under section 165-40 were the preceding MRRT year.
Example:
Using the example in subsection 165-40(1) , the preceding base value of the starting base asset for the purposes of section 90-50 is $ 2.375 million ( $ 9.5 million − $ 7.125 million).
If the market value approach is the applicable valuation approach, the base value of the starting base asset for the next * MRRT year would, under section 90-50, be $ 1.75 million ( $ 2.375 million − $ 625,000).
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