Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 (67 of 2024)

Schedule 3   Capital allowances for mining, quarrying or prospecting rights and clarifying the meaning of exploration for petroleum

Part 1   Capital allowances for mining, quarrying or prospecting rights

Income Tax Assessment Act 1997

2   At the end of section 40-30

Add:

(7) For the purposes of subsection (6), it does not matter whether the new right begins immediately after the other right ends or later (including in a later income year).