“This provision about mining development costs has been removed from the law”
This part of the law used to explain what ‘mining development expenditure’ meant. However, it has been removed from the law. You don’t need to worry about this definition anymore because it’s no longer part of the Income Tax Act 2007. The government took it out on 1 April 2014, so it doesn’t apply to tax years from 2014-15 onwards.
CU 24: Meaning of mining exploration expenditure, or
“This provision about mining exploration costs no longer applies”
Part C
Income
Income from mineral mining:
Definitions
CU 23Meaning of mining development expenditure (Repealed)
Notes
Section CU 23: repealed, on (applying for the 2014–15 and later income years), by section 14(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014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).
