CU 15: Recovery of reinvestment profit not used for mining purposes
You could also call this:
“Removed tax rule about unused mining reinvestment profits”
This section of the law, called ‘Recovery of reinvestment profit not used for mining purposes’, used to be part of the Income Tax Act 2007. However, it no longer applies. The government removed this rule on 1 April 2014, which means it doesn’t affect your taxes from the 2014-2015 tax year onwards.
CU 16: Recovery of reinvestment profit on repayment of loans, or
“This rule about getting money back when loans are repaid no longer applies”
Part C
Income
Income from mineral mining:
Definitions
CU 15Recovery of reinvestment profit not used for mining purposes (Repealed)
Notes
Section CU 15: repealed, on (applying for the 2014–15 and later income years), by section 14(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014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).
