“This provision about mining exploration costs no longer applies”
This section of the law used to explain what ‘mining exploration expenditure’ meant. However, it was removed from the law on 1 April 2014. This means that since that date, this specific definition no longer applies to income tax rules in New Zealand. If you need to know about mining exploration expenditure for tax purposes after 1 April 2014, you might need to look at other parts of the tax law or ask a tax expert for help.
“This section defining 'mining operations' has been removed from the Act”
Part C
Income
Income from mineral mining:
Definitions
CU 24Meaning of mining exploration expenditure (Repealed)
Notes
Section CU 24: repealed, on (applying for the 2014–15 and later income years), by section 14(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014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).
