Taxation Laws Amendment Act (No. 4) 2003 (66 of 2003)

Schedule 2   Mining

Income Tax Assessment Act 1997

1   At the end of section 40-30

Add:

(6) This Division applies to a *mining, quarrying or prospecting right (the new right ) as if it were a continuation of another mining, quarrying or prospecting right you *held if:

(a) the other right ends; and

(b) the new right and the other right relate to the same area, or any difference in area is not significant.