75‑20 Mining losses75‑20 Mining losses

#### 75‑20 Mining losses (1) A mining loss arises for a mining project interest for an \*MRRT year if the \*mining expenditure for the interest for the year exceeds the \*mining revenue for the interest for the year. (2) In that year, the amount of the \*mining loss is the amount of the excess. (3) In a later \*MRRT year, the amount of the \*mining loss is:  where: > previous amount of the loss is the amount of the \*mining loss for the preceding \*MRRT year. > previous application of the loss is the sum of the parts (if any) of the \*mining loss that have been applied in working out, for the preceding \*MRRT year, any of the following: (a) a \*mining loss allowance for the mining project interest; (b) one or more \*transferred mining loss allowances for other mining project interests. > uplift factor is: >  (4) The \*mining loss ceases to be a mining loss if it has been fully applied in working out any of the following: (a) a \*mining loss allowance for the mining project interest; (b) \*transferred mining loss allowances for other mining project interests.