INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

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

SECTION 124BF   PROPERTY USED FOR REHABILITATION-RELATED ACTIVITIES TAKEN TO BE USED FOR THE PURPOSE OF PRODUCING ASSESSABLE INCOME  

124BF(1)   [Deemed use of property]  

For the purposes of this Act, where property is used by a taxpayer on or after 1 July 1991 for rehabilitation-related activities, that use of the property by the taxpayer is taken to be for the purpose of producing assessable income of the taxpayer.

124BF(2)   [Exception]  

Subsection (1) has effect subject to a provision of this Act that expressly provides that a particular use of property is not taken to be for the purpose of producing assessable income.