Income Tax (Consequential Amendments) Act 1997 (39 of 1997)

Schedule 1   Consequential amendments of the Income Tax Assessment Act 1936

243   Paragraph 160ZZE(a)

Repeal the paragraph, substitute:

(a) a taxpayer who:

(i) is carrying on or has carried on eligible mining operations within the meaning of Subdivision 330-B of the Income Tax Assessment Act 1997, or has incurred transport capital expenditure within the meaning of Subdivision 330-H of that Act; or

(ii) has carried on prescribed mining operations within the meaning of Division 10 of Part III of this Act or prescribed petroleum operations within the meaning of Division 10AA of that Part, or has incurred expenditure to which Division 10AAA of that Part applied;

disposes of an asset in respect of which, or in respect of the acquisition of which, the taxpayer has incurred expenditure of a capital nature to which Subdivision 330-A, 330-C or 330-H of the Income Tax Assessment Act 1997 applies or Division 10, 10AAA or 10AA of Part III of this Act applied; and