65‑20 Available royalty credits65‑20 Available royalty credits

#### 65‑20 Available royalty credits (1) A \*royalty credit can be applied in working out a \*transferred royalty allowance for a mining project interest for an \*MRRT year (the transfer year) if: (a) the mining project interest and the mining project interest for which the royalty credit arises are \*integrated at all times in the period: (i) starting at the time the \*royalty credit arises; and (ii) ending at the end of the transfer year; and Note 1: For when a royalty credit arises, see section 60‑20. Note 2: For when mining project interests are integrated, see Division 255. (b) the royalty credit does not relate to an MRRT year for which there was a choice to use the alternative valuation method under Division 175 in relation to the mining project interest for which the royalty credit arises. (2) However, the \*royalty credit cannot be applied to the extent it is applied in working out: (a) a \*royalty allowance; or (b) a \*transferred royalty allowance; for another mining project interest for the year.