INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 10AB - Rehabilitation and restoration of mining, quarrying and petroleum sites  

SECTION 124BF   PROPERTY USED FOR REHABILITATION-RELATED ACTIVITIES TAKEN TO BE USED FOR THE PURPOSE OF PRODUCING ASSESSABLE INCOME  

124BF(1)   [Deemed use of property]  

For the purposes of this Act, where property is used by a taxpayer on or after 1 July 1991 for rehabilitation-related activities, that use of the property by the taxpayer is taken to be for the purpose of producing assessable income of the taxpayer.

124BF(2)   [Exception]  

Subsection (1) has effect subject to a provision of this Act that expressly provides that a particular use of property is not taken to be for the purpose of producing assessable income.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.