Part C
Income
Income from mineral mining
CU 2Treatment of mining land
This section applies when—
- a mineral miner acquires land or an interest in land for the purposes of current or intended mining operations or associated mining operations; and
- the land—
- constitutes a mining permit area or is land adjacent to it:
- forms, or is intended to form, part of a mining permit area or land adjacent to it.
- constitutes a mining permit area or is land adjacent to it:
An amount that the mineral miner derives from disposing of the land or interest in land is income of the mineral miner for the income year of disposal.
Notes
- Section CU 2: replaced, on (applying for the 2014–15 and later income years), by section 14(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).