Taxation Laws Amendment Act (No. 4) 2003 (66 of 2003)
Schedule 2 Mining
Income Tax Assessment Act 1997
3 Subsection 40-95(7) (at the end of the table)
Add:
|
11 |
A *mining, quarrying or prospecting right relating to *mining operations (except obtaining *petroleum or quarry materials) |
The life of the mine or proposed mine or, if there is more than one, the life of the mine that has the longest estimated life |
|
12 |
A *mining, quarrying or prospecting right relating to *mining operations to obtain *petroleum |
The life of the petroleum field or proposed petroleum field |
|
13 |
A *mining, quarrying or prospecting right relating to *mining operations to obtain quarry materials |
The life of the quarry or proposed quarry or, if there is more than one, the life of the quarry that has the longest estimated life |