115‑25 Transferability of pre‑mining los115‑25 Transferability of pre‑mining losses

#### 115‑25 Transferability of pre‑mining losses An existing pre‑mining loss that relates to one of the constituent interests complies with this section if: (a) under section 95‑20 (available pre‑mining losses), the existing pre‑mining loss could be applied in working out a \*transferred pre‑mining loss allowance for each of the other constituent interests for the \*MRRT year if: (i) the year were to end at the combining time; and (ii) subsection 95‑20(4) were disregarded; and (aa) section 95‑25 (cap on available pre‑mining losses) does not wholly or partly prevent the existing pre‑mining loss from being so applied; and (b) in a case where one or more of the constituent interests is a combined interest under a previous application of this Division—section 115‑55 does not wholly or partly prevent the existing pre‑mining loss from being so applied. > Note: Section 95‑25 (cap on available pre‑mining losses) may impose additional limits on the availability of pre‑mining losses under section 95‑20.