70‑1 What this Division is about70‑1 What this Division is about

#### 70‑1 What this Division is about Pre‑mining loss allowances enable expenditure (such as exploration expenditure) incurred during the period before a mining project interest comes into existence to reduce a miner’s MRRT liability for a mining project interest for an MRRT year. Pre‑mining losses that are unapplied at the end of the MRRT year in which they arise are uplifted and may be able to be applied in later years. > Note: Pre‑mining losses that are not applied to a pre‑mining loss allowance may be applied to transferred pre‑mining loss allowances for other mining project interests (see Division 95).