INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 10AB - Rehabilitation and restoration of mining, quarrying and petroleum sites  

SECTION 124BC   NO DEDUCTION FOR CERTAIN EXPENDITURE  

124BC(1)   [Plant, land, buildings, securities]  

A deduction is not allowable under section 124BA for expenditure in respect of:

(a) (Omitted by No 35 of 1992)

(b) acquiring land; or

(c) constructing buildings or other structures; or

(d) a bond or security, however described, for the performance of rehabilitation-related activities.

124BC(2)   [Housing and welfare]  

A deduction is not allowable under section 124BA for expenditure of a capital nature in respect of housing and welfare.

124BC(3)   [Depreciation]  

A deduction is not allowable under section 124BA for expenditure to the extent to which it is taken into account in calculating an amount of depreciation that is allowable as a deduction.