Minerals Resource Rent Tax Act 2012
165‑50 Base value for the next MRRT year165‑50 Base value for the next MRRT year
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165‑50 Base value for the next MRRT year
Section 90‑30 or 90‑50 applies in working out the *base value of the *starting base asset for the next *MRRT year as if the last part of the entire MRRT year for which a *decline in value was worked out under section 165‑40 were the preceding MRRT year.
Note: Example: Using the example in subsection 165‑40(1), the preceding base value of the starting base asset for the purposes of section 90‑50 is $2.375 million ($9.5 million ‑ $7.125 million).
Note: If the market value approach is the applicable valuation approach, the base value of the starting base asset for the next *MRRT year would, under section 90‑50, be $1.75 million ($2.375 million ‑ $625,000).