90‑15 Write off rates under the market v90‑15 Write off rates under the market value approach

#### 90‑15 Write off rates under the market value approach (1) If, under Division 85, the market value approach is the valuation approach for the mining project interest, the write off rate of the \*starting base asset for each \*MRRT year is as follows:  where: > remaining effective life is: (a) if the asset is a \*depreciating asset—the shortest of the following: (i) the unelapsed part, as at the start of the \*MRRT year, of what was the asset’s \*effective life worked out as at its \*start time; (ii) the unelapsed part, as at the start of the MRRT year, of the longest effective life, worked out as at its start time, of any right or interest that is \*held by the miner holding the \*starting base asset and that constitutes the whole or part of the mining project interest; (iii) the number of years specified in subsection (2); or (b) if the asset is not a depreciating asset—the shorter of the following: (i) the unelapsed part, as at the start of the MRRT year, of the longest effective life, worked out as at its start time, of any right or interest that is held by the miner holding the starting base asset and that constitutes the whole or part of the mining project interest; (ii) the number of years specified in subsection (2). (2) The number of years is the number of years (including parts of years) between: (a) the start of the \*MRRT year; and (b) 1 July 2037. However, if the MRRT year starts after 30 June 2036, the number of years is one. (3) If the asset is an asset that is treated as a single \*starting base asset because of section 80‑30, for the purposes of the definition of remaining effective life in subsection (1): (a) treat the asset as a \*depreciating asset, unless none of the \*constituent assets of the single starting base asset are depreciating assets; and (b) treat the single starting base asset’s \*effective life, at its \*start time, as the longest effective life, worked out as at that time, of any of the constituent assets that are depreciating assets. (4) For the purpose of working out the \*effective life of a \*starting base asset as at its \*start time: (a) the miner may make the choices for the purposes of this section; and (b) the Commissioner may make the decisions for the purposes of this section; that the miner or Commissioner could have made under Division 40 of the Income Tax Assessment Act 1997, relating to working out the effective life of the asset under that Division.