80‑15 The amount of a starting base allo80‑15 The amount of a starting base allowance

80‑15 The amount of a starting base allowance

(1) The amount of the miner’s *starting base allowance is so much of the sum of the miner’s available starting base losses as does not exceed the remaining profit. (2) In working out the amount of a *starting base allowance, *starting base losses are applied in the order in which they arise.

Note 1: If an available starting base loss cannot be wholly applied in an MRRT year, the unapplied amount can be carried forward: see section 80‑45.

Note 2: Starting base losses can be affected by starting base adjustments under Division 165.