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
5 At the end of section 40-95
Add:
(12) The effective life of a *mining, quarrying or prospecting right, or *mining, quarrying or prospecting information, is 15 years if the right or information does not relate to:
(a) a mine or proposed mine; or
(b) a petroleum field or proposed petroleum field; or
(c) a quarry or proposed quarry.
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