80‑1 What this Division is about80‑1 What this Division is about

#### 80‑1 What this Division is about Starting base allowances enable the following to be taken into account in a miner’s MRRT liability for a mining project interest for an MRRT year: (a) investments in assets in relation to upstream mining operations before 2 May 2010; (b) certain expenditure on such assets (not including expenditure to acquire rights to resources) made by a miner between 2 May 2010 and 1 July 2012. A starting base allowance consists of a miner’s available starting base losses. Starting base losses reflect the declines in value of starting base assets. Starting base losses that are not applied are increased by one of 2 uplift factors. Which uplift factor to use is governed by whether a book value approach or a market value approach is applied to valuing starting base assets. > Note 1: A starting base allowance can arise in relation to a pre‑mining project interest from which a mining project interest originates. > Note 2: Division 85 deals with the valuation approaches. Division 90 deals with declines in value of starting base assets. > Note 3: Division 165 deals with starting base adjustments, which apply if starting base assets cease to be part of a miner’s starting base. Division 180 allows for valuation of starting base assets using a look‑back approach.