150‑25 Effect of MRRT liability from ear150‑25 Effect of MRRT liability from earlier years on rehabilitation tax offset amounts

150‑25 Effect of MRRT liability from earlier years on rehabilitation tax offset amounts

For the purposes of section 225‑20, only a proportion, worked out on a reasonable basis, of an *MRRT liability, of the original explorer or any other *entity, for the *pre‑mining project interest for an *MRRT year before the year in which a *pre‑mining project split happens, is taken to have been paid in relation to a new interest.

Note: The original explorer is required to give the new explorer the information it needs to work out the amount of a rehabilitation offset: see Division 121 in Schedule 1 to the Taxation Administration Act 1953.