CTHRepealedAct
Minerals Resource Rent Tax Act 2012
140‑5 Pre‑mining profits140‑5 Pre‑mining profits
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140‑5 Pre‑mining profits
(1) A pre‑mining profit arises for an *MRRT year if: (a) during the year, an *entity *holds a *pre‑mining project interest; and (b) the entity’s *pre‑mining revenue for the interest for the year exceeds the entity’s *pre‑mining expenditure for the interest for the year. (2) In that year, the amount of the *pre‑mining profit is the amount of the excess.