MINERALS RESOURCE RENT TAX ACT 2012 (REPEALED)
The decline in value of a * starting base asset , relating to a mining project interest, during an * MRRT year is as follows:
|Base value||×||Number of starting base days||×||Write off rate|
(a) Subdivision 90-B (book value approach);
(b) Subdivision 90-C (market value approach);
(c) section 165-60 (use etc. of starting base assets after starting base adjustment events). 90-5(2)
The decline in value during an * MRRT year cannot be more than the asset ' s * base value for that year.
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