CTHRepealedAct
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.