Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)
Schedule 1 AMENDMENTS OF THE INCOME TAX ASSESSMENT ACT 1936
Part 1 MINING AND PETROLEUM CASH BIDDING
1 Object
The object of this Part is:
(a) to provide for deductibility of cash bidding payments to acquire exploration or prospecting authorities and mining authorities; and
(b) to extend to on-shore areas the coverage of the existing provisions relating to deductibility of cash bidding payments to acquire petroleum exploration permits and production licences.
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