Minerals Resource Rent Tax Act 2012
165‑30 The effect of negative starting b165‑30 The effect of negative starting base adjustments on mining revenue
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165‑30 The effect of negative starting base adjustments on mining revenue
(1) If: (a) there is a *starting base adjustment, for a mining project interest for an *MRRT year, that is a negative amount; and (b) there are no *starting base losses for the mining project interest; the starting base adjustment (expressed as a positive amount) is included in the *mining revenue, for the mining project interest for the MRRT year, of the miner that has the mining project interest. (2) If: (a) there is a *starting base adjustment, for a mining project interest for an *MRRT year, that is a negative amount; and (b) there are one or more *starting base losses for the mining project interest; and (c) the starting base adjustment (expressed as a positive amount) is greater than the sum of those starting base losses; an amount equal to the difference between the starting base adjustment (expressed as a positive amount) and the sum of those starting base losses is included in the *mining revenue, for the mining project interest for the MRRT year, of the miner that has the mining project interest.