INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 16H - Termination of gold mining exemptions  

Subdivision B - Division 10 and related provisions  

SECTION 159GZZQ   159GZZQ   ELIGIBLE GOLD EXPLORATION OR PROSPECTING EXPENDITURE - DIVISION 10 APPLIES AS IF INCURRED ON 1 JANUARY 1991 ETC.  
Subject to this Subdivision, where a taxpayer incurs or incurred eligible gold exploration or prospecting expenditure, Division 10 applies to the expenditure for the changeover year and all subsequent years of income as if:


(a) the expenditure had been incurred on 1 January 1991 instead of when it was actually incurred;


(b) the mining operations referred to in applying subsection 122J(1) to the expenditure were prescribed mining operations; and


(c) section 122H did not apply to deemed gold exploration or prospecting expenditure.


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