MINERALS RESOURCE RENT TAX ACT 2012 [ REPEALED]

CHAPTER 6 - INTERPRETING THIS ACT  

PART 6-2 - MEANING OF SOME IMPORTANT CONCEPTS  

Division 250 - Meaning of hold  

Operative Provisions  

SECTION 250-5   MEANING OF HOLD  

250-5(1)  
An * entity holds a thing referred to in subsection (2) if:


(a) the thing is a * depreciating asset that the entity holds (within the meaning of section 40-40 of the Income Tax Assessment Act 1997 ); or


(b) the entity would hold the thing (within the meaning of that section) if it were a depreciating asset.

250-5(2)  
The things are as follows:


(a) a * starting base asset relating to a mining project interest (or any property or right that is expected to be a starting base asset after the time mentioned in subsection 80-25(2) );


(b) an asset to which section 175-40 applies;


(c) a * pre-mining project interest .

250-5(3)  
However, the * entity that has a mining project interest is taken to hold the * starting base asset that is or includes the rights and interests constituting the mining project interest.


 

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.