CTHRepealedAct
Minerals Resource Rent Tax Act 2012
115‑35 Starting base losses and starting115‑35 Starting base losses and starting base assets
Start here
Get a plain-English read of 115‑35 Starting base losses and starting
Turn the raw legal text into a practical explanation grounded in Minerals Resource Rent Tax Act 2012.
115‑35 Starting base losses and starting base assets
A *starting base loss, or a *starting base asset, that relates to one of the constituent interests complies with this section if: (a) the constituent interest: (i) existed on 2 May 2010; or (ii) *originates from a *pre‑mining project interest that existed on 2 May 2010; and (b) the miner who has the constituent interest is, and at all times since 2 May 2010 has been, the miner who has each other constituent interest (or the pre‑mining project interest from which the interest originates).