70‑30 Pre‑mining losses70‑30 Pre‑mining losses

#### 70‑30 Pre‑mining losses (1) A pre‑mining loss arises for an \*MRRT year if: (a) during the year, an \*entity \*holds a \*pre‑mining project interest; and (b) the entity’s \*pre‑mining expenditure for the interest for the year exceeds the entity’s \*pre‑mining revenue for the interest for the year. (2) The pre‑mining loss ceases to be a pre‑mining loss if it has been fully applied in working out any of the following: (a) a \*pre‑mining loss allowance for a mining project interest that \*originates from the \*pre‑mining project interest; (b) \*transferred pre‑mining loss allowances for other mining project interests.