Tax and Superannuation Laws Amendment (2014 Measures No. 3) Act 2014 (69 of 2014)

Schedule 1   Capital allowances

Part 1   Amendments

Income Tax Assessment Act 1997

5   At the end of section 40-95


(12) The effective life of a *mining, quarrying or prospecting right, or *mining, quarrying or prospecting information, is 15 years if the right or information does not relate to:

(a) a mine or proposed mine; or

(b) a petroleum field or proposed petroleum field; or

(c) a quarry or proposed quarry.