MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]
A * pre-mining loss can be applied in working out a * pre-mining loss allowance for the mining project interest for the year if the mining project interest * originates from the * pre-mining project interest to which the pre-mining loss relates.
Once a pre-mining loss has been fully applied, it ceases to be a pre-mining loss (see subsection 70-30(2) ), and therefore cannot be applied in working out a pre-mining loss allowance.70-20(2)
A mining project interest originates from a * pre-mining project interest if:
(a) the * termination day for the pre-mining project interest happened; or
(b) the pre-mining project interest ceased to apply to the * project area , or a part of the project area, for the mining project interest;
because the mining project interest started to apply to the project area, or a part of the project area, for the pre-mining project interest.
A mining project interest may originate from more than one pre-mining project interest.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.