Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances  

Subdivision 40-H - Capital expenditure that is immediately deductible  

Operative provisions

SECTION 40-740   Meaning of ancillary mining activities and mining building site  

40-740(1)  
Any of the following are ancillary mining activities :


(a) preparing a site for you to carry on * mining and quarrying operations;


(b) providing water, light or power for, access to, or communications with, a site on which you carry on, or will carry on, mining and quarrying operations;


(c) * minerals treatment of * minerals or minerals treatment of quarry materials, obtained by you in carrying on mining and quarrying operations;


(d) storing (whether before or after minerals treatment) such minerals, *petroleum or quarry materials in relation to the operation of a * depreciating asset for use primarily and principally in treating such minerals or quarry materials;


(e) liquefying natural gas obtained from mining and quarrying operations you carry on.

40-740(2)  


A mining building site is a site, or a part of a site, where there are * depreciating assets that are or were necessary for you to carry on * mining and quarrying operations. However, a mining building site does not include anything covered by the definition of housing and welfare .

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