CTHRepealedAct
Minerals Resource Rent Tax Act 2012
200‑5 Effect of the simplified MRRT meth200‑5 Effect of the simplified MRRT method
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200‑5 Effect of the simplified MRRT method
If a miner chooses, for an *MRRT year, to use the simplified MRRT method: (a) the miner’s *MRRT liability for each mining project interest the miner has for the year is zero; and (b) all *allowance components that relate to a mining project interest the miner has, or a *pre‑mining project interest the miner *holds, are extinguished; and (c) each mining project interest that: (i) the miner has during the year; or (ii) *originates from a pre‑mining project interest the miner held during the year; is taken, despite section 80‑20, to have no *starting base loss for any later MRRT year.