INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 (ARCHIVE)

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 330 - Mining and quarrying  

Subdivision 330-E - Selling a right or information  

SECTION 330-25 (ARCHIVE)  

330-25   Old general mining and petroleum expenditure on plant cannot be transferred under the new law  
If:

(a) any of the new ACE referred to in section 330-1 of this Act; or

(b) any of the unrecouped expenditure referred to in section 330-5 of this Act; or

(c) any of the whole or part of a deduction disallowed for the 1996-97 income year because of subsection 122DG(6) or 124ADG(6) of the Income Tax Assessment Act 1936 ;

can be attributed to expenditure on plant, disregard that expenditure for the purposes of paragraph 330-245(2)(a) (about the limit on an amount that can be included in an agreement) of the Income Tax Assessment Act 1997 .