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

1   At the end of subsection 40-80(1)

Add:

; and (d) in a case where the asset is a *mining, quarrying or prospecting right - you acquired the asset from an *Australian government agency or a *government entity; and

(e) in a case where the asset is *mining, quarrying or prospecting information:

(i) you acquired the asset from an Australian government agency or a government entity; or

(ii) the asset is a geophysical or geological data package you acquired from an entity to which subsection (1AA) applies; or

(iii) you created the asset, or contributed to the cost of its creation; or

(iv) you caused the asset to be created, or contributed to the cost of it being created, by an entity to which subsection (1AA) applies.