INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 10AB - Rehabilitation and restoration of mining, quarrying and petroleum sites  

SECTION 124BB   REHABILITATION-RELATED ACTIVITY  

124BB(1)   [Interpretation]  

A reference in this Division to a rehabilitation-related activity in relation to a taxpayer is a reference to the restoration of a site on which the taxpayer conducted extractive activities or ancillary activities to, or to a reasonable approximation of, the pre-mining condition of the site.

124BB(1A)   [Restoration of site]  

A reference in this section to the restoration of a site includes a reference to the partial restoration of the site (even if the taxpayer had no intention of completing the restoration).

124BB(2)   [Pre-mining condition of site]  

A reference in this section to the pre-mining condition of a site is a reference to the condition the site was in before extractive activities or ancillary activities or both were first commenced on the site, whether by the taxpayer or by a predecessor of the taxpayer.

124BB(3)   [Site on which ancillary activities conducted]  

A reference in this section to a site on which the taxpayer conducted ancillary activities includes a reference to an eligible building site.

124BB(4)   [Time when ancillary activities first commenced]  

In the case of an eligible building site, a reference in this section to the time at which ancillary activities were first commenced on the site is a reference to the earliest time at which the buildings, improvements or plant concerned were located on the site.