CTHRepealedAct
Minerals Resource Rent Tax Act 2012
100‑20 Available mining losses100‑20 Available mining losses
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#### 100‑20 Available mining losses
(1) A \*mining loss can be applied in working out a \*transferred mining loss allowance for a mining project interest (the receiving interest) for an \*MRRT year (the transfer year) if:
(a) the condition in section 100‑25 (common ownership test) is met; and
(b) the mining loss does not relate to an MRRT year for which the alternative valuation method under Division 175 was chosen in relation to the mining project interest for which the mining loss arises (the loss project interest); and
(c) either:
(i) both the loss project interest and the receiving interest relate to iron ore; or
(ii) both the loss project interest and the receiving interest do not relate to iron ore.
(2) Despite subsection (1), the \*mining loss cannot be applied to the extent it is applied in working out:
(a) a \*mining loss allowance; or
(b) a \*transferred mining loss allowance;
for another mining project interest for the year.
> Note: Section 115‑60 sets out further restrictions on applying mining losses if a mining project interest is a combined interest under Division 115.