225‑20 Rehabilitation tax offset amounts225‑20 Rehabilitation tax offset amounts relating to pre‑mining project interests

#### 225‑20 Rehabilitation tax offset amounts relating to pre‑mining project interests (1) An \*entity has a rehabilitation tax offset amount, for an \*MRRT year (the current year), in relation to a \*pre‑mining project interest that the entity \*holds if: (a) the \*termination day for the pre‑mining project interest happened in an earlier MRRT year or the current year; and (b) in the current year, an amount of expenditure (upstream rehabilitation expenditure) was incurred that: (i) is included in \*pre‑mining expenditure for the pre‑mining project interest for the current year; and (ii) is necessarily incurred in carrying on \*pre‑mining project operations that would be of a kind mentioned in paragraph 35‑20(2)(f) if they related to a mining project interest, or in carrying on activities done in furtherance of mining operations of that kind; and (c) a \*pre‑mining loss relating to the pre‑mining project interest for the current year is extinguished under section 155‑25. (2) However, subsection (1) does not apply if neither the \*entity nor any other entity has, or has ever had, an \*MRRT liability, for the \*MRRT year or any earlier MRRT year, in relation to the \*pre‑mining project interest. (3) The rehabilitation tax offset amount relating to the \*pre‑mining project interest is:  where: > allowable rehabilitation expenditure is the lesser of: (a) the sum of all the amounts of upstream rehabilitation expenditure that were incurred in the current year in relation to the pre‑mining project interest; and (b) the amount of the \*pre‑mining loss, mentioned in paragraph (1)(c),extinguished under section 155‑25. (4) However, the \*rehabilitation tax offset amount cannot exceed the sum of all the \*MRRT liabilities, of the \*entity or any other entity, for the \*pre‑mining project interest for the \*MRRT year and all earlier MRRT years.