80‑40 Starting base losses for the MRRT 80‑40 Starting base losses for the MRRT years in which they arise

#### 80‑40 Starting base losses for the MRRT years in which they arise (1) In the \*MRRT year for which a \*starting base loss arises, the amount of the starting base loss is the sum of the declines in value, for the year, of all the \*starting base assets that: (a) relate to the mining project interest for which the starting base loss arises; and (b) were \*held, for any time during the year, by a miner that had the mining project interest during the year. (2) However, the amount is reduced by the sum of all the reductions (if any) required by subsections (3) and (4) in relation to any of those \*starting base assets for the year. Use etc. that is not related to upstream mining operations (3) Reduce the amount under subsection (1) relating to a \*starting base asset, to the extent (if any) that, during the \*starting base days, the asset was: (a) used; or (b) \*installed ready for use; or (c) being constructed for use; for a purpose other than carrying on \*upstream mining operations relating to the mining project interest. Use etc. that is not related to mining expenditure (4) Reduce the amount under subsection (1) relating to a \*starting base asset (or, if that amount is reduced under subsection (3), that amount as so reduced) to the extent (if any) that: (a) during the \*starting base days, the asset was: (i) used; or (ii) \*installed ready for use; or (iii) being constructed for use; for carrying on \*upstream mining operations relating to the mining project interest; but (b) that amount would have been \*excluded expenditure if it had been an amount of expenditure that the miner incurred. (5) However, subsection (4) does not apply if: (a) under Division 85, the market value approach is the valuation approach for the mining project interest; and (b) the amount would have been \*excluded expenditure only because of section 35‑35 (cost of acquiring rights and interests in projects). > Note: Subsection (5) ensures that a decline in value of a mining project interest or an interest in the mining project interest is not reduced under the market value approach, even though expenditure incurred in acquiring the interest is excluded expenditure under Division 35. Starting base days (6) The starting base days in relation to a \*starting base asset are the days, during the \*MRRT year but on or after the \*start time for the asset: (a) on which a miner both \*held the asset and had the mining project interest; and (b) on which the asset was, for any purpose: (i) used; or (ii) \*installed ready for use; or (iii) being constructed for use. (7) However: (a) if a \*starting base adjustment event for the asset happens during the \*MRRT year—any days in the MRRT year after that event are not starting base days relating to the asset; and (b) any days after the \*termination day for the mining project interest are not starting base days relating to the asset.