CTHRepealedAct
Minerals Resource Rent Tax Act 2012
25‑5 How to work out the mining profit f25‑5 How to work out the mining profit for a mining project interest
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#### 25‑5 How to work out the mining profit for a mining project interest
Work out a miner’s mining profit for a mining project interest for an \*MRRT year as follows:
Method statement
Step 1. Work out the miner’s \*mining revenue for the mining project interest for the \*MRRT year.
> Note: For the mining revenue, see Division 30.
Step 2. Work out the miner’s \*mining expenditure for the mining project interest for the \*MRRT year.
> Note: For the mining expenditure, see Division 35.
Step 3. If the \*mining revenue exceeds the \*mining expenditure, the difference is the miner’s mining profit for the mining project interest for the \*MRRT year.
Step 4. If the \*mining revenue does not exceed the \*mining expenditure, the miner’s mining profit for the mining project interest for the \*MRRT year is zero.
> Note: Mining expenditure that exceeds mining revenue is a mining loss that may be applied in working out a mining loss allowance (see Part 3‑4) or a transferred mining loss allowance (see Part 3‑7).