#### 70‑10 When a miner has a pre‑mining loss allowance A miner has a pre‑mining loss allowance for a mining project interest for an \*MRRT year if: (a) there is an amount (a remaining profit) by which the miner’s \*mining profit for the interest for the year exceeds the sum of all the \*higher ranking allowances (if any) that the miner has for the interest for the year; and (b) there are one or more \*pre‑mining losses (available pre‑mining losses) that, under section 70‑20, can be applied in working out a pre‑mining loss allowance for the interest for the year.

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