S 112-38 repealed by No 96 of 2014, s 3 and Sch 5 item 24, effective 30 September 2014 and applicable in relation to authorities, licences, permits and entitlements held during the income year in which this Schedule commences or a later income year. S 112-38 formerly read:
SECTION 112-38 Geothermal extraction rights
112-38
The first element of the
*
cost base and
*
reduced cost base of a
*
geothermal energy extraction right is nil if:
(a)
you
*
acquire the right because you
*
held a
*
geothermal exploration right; and
(b)
you stopped holding the geothermal exploration right because you acquired the geothermal energy extraction right; and
(c)
the area the geothermal energy extraction right relates to is the same as, or not significantly different from, the area the geothermal exploration right related to.
S 112-38 inserted by No 84 of 2013, s 3 and Sch 3 item 25, applicable to geothermal energy extraction rights acquired on or after 1 July 2012.
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