Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 (14 of 2012)

Schedule 3   Amendment of other Acts

Part 1   Amendments commencing at the same time as the Minerals Resource Rent Tax Act 2012 commences

Income Tax Assessment Act 1997

85   Subsection 995-1(1) (definition of termination value )

Repeal the definition, substitute:

termination value :

(a) of a *depreciating asset - has the meaning given by section 40-300; and

(b) of a *starting base asset - has the meaning given by section 300-1 of the Minerals Resource Rent Tax Act 2012.