165‑45 Reductions in starting base losse165‑45 Reductions in starting base losses

165‑45 Reductions in starting base losses

(1) This section applies if, on one or more occasions during an *MRRT year, section 165‑35 applies to a miner ceasing to *hold a part of a *starting base asset relating to a mining project interest that a miner has. (2) In working out under subsection 80‑40(3) or (4) any reduction in an amount of a *starting base loss for the mining project interest for the *MRRT year or a later MRRT year, treat the starting base asset as not including, after the cessation, the disposed asset (within the meaning of section 165‑35) relating to that cessation.

Note: Reductions happen under subsection 80‑40(3) or (4) if the asset is used, installed for use, or constructed for use for a purpose other than carrying on upstream mining operations relating to the mining project interest, or in connection with excluded expenditure.

Note: Example: Using the example in subsection 165‑40(1), the miner’s starting base loss would be unaffected if, after the sale of the 75% interest in the truck, the purchaser used the truck for 75% of the time for a purpose that is entirely unrelated to the upstream mining operations for the mining project interest.