Taxation Determination

TD 92/176W

Income tax: can an election under: (a) subsection 122J(4BA) (general mining), or (b) subsection 122JF(3) (quarrying operations), or (c) subsection 124AH(4AA) (petroleum operations), apply to part only of the actual exploration or prospecting expenditure incurred in the year of income?

• Please note that the PDF version is the authorised version of this withdrawal notice.
  This document incorporates revisions made since original publication. View its history and amending notices, if applicable.

FOI status:

Notice of Withdrawal

The Tax Law Improvement Project is restructuring, renumbering and rewriting the income tax law in plain language. The Parliament is amending the income tax law progressively to reflect these aims. As new laws come into effect, Taxation Rulings (including Taxation Determinations) about old laws are being brought into line with them.

Taxation Determination TD 92/176 is withdrawn with effect from today.

The general mining, quarrying and petroleum mining election provisions have been amalgamated into section 330-315 of the Income Tax Assessment Act 1997. The Determination is now withdrawn because the new provision is clear and needs no further explanation.

Commissioner of Taxation
2 July 1997

Previous Draft No. TD 92/D105

References

ATO references:
NO CNN J36/355

Subject References:
exploration expenditure
mining
petroleum operations
prospecting expenditure
quarrying

Legislative References:
ITAA 122J(1)
ITAA 122J(4B)
ITAA 122J(4BA)
ITAA 122J(4BB)
ITAA 122J(4BC)
ITAA 122J(4C)
ITAA 122JF(3)
ITAA 124AH(4AA)