CU 14: Recovery of reinvestment profit on disposal of mining shares
You could also call this:
“Old rule for getting money back when selling mining shares no longer applies”
This part of the law used to be about getting back some money when you sell shares in a mining company. The money you could get back was called “reinvestment profit”. However, this rule doesn’t exist anymore. It was removed from the law on 1 April 2014. This means that from the 2014-2015 tax year onwards, you can’t use this rule to get money back when you sell mining shares.
CU 15: Recovery of reinvestment profit not used for mining purposes, or
“Removed tax rule about unused mining reinvestment profits”
Part C
Income
Income from mineral mining:
Definitions
CU 14Recovery of reinvestment profit on disposal of mining shares (Repealed)
Notes
Section CU 14: repealed, on (applying for the 2014–15 and later income years), by section 14(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014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).
