Tax and Superannuation Laws Amendment (2014 Measures No. 3) Act 2014 (69 of 2014)

Schedule 1   Capital allowances

Part 1   Amendments

Income Tax Assessment Act 1997

9   Paragraph 40-110(4)(b)

Repeal the paragraph, substitute:

(b) if the *depreciating asset is a *mining, quarrying or prospecting right or *mining, quarrying or prospecting information:

(i) subsections 40-95(10) and (11) (if the right or information relates to an existing or proposed mine, petroleum field or quarry); or

(ii) subsection 40-95(12) (if the right or information no longer relates to an existing or proposed mine, petroleum field or quarry).