Document ID: chunk:federal_register_of_legislation:C2025C00029:section:6:p20
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 6 (pt 20/24)
Character Range: 1076646–1079419

operations;
 (b) transport of *petroleum:
 (i) that has been treated at a refinery; or
 (ii) that forms part of a system of reticulation to consumers; or
 (iii) to a particular consumer or consumers.

40‑875  Meaning of processed minerals and minerals treatment
 (1) Processed minerals are any of the following:
 (a) materials resulting from *minerals treatment of *minerals or quarry materials (except *petroleum);
 (b) materials resulting from sintering or calcining;
 (c) pellets or other agglomerated forms of iron;
 (d) alumina and blister copper.
 (2) Minerals treatment means:
 (a) cleaning, leaching, crushing, grinding, breaking, screening, grading or sizing; or
 (b) concentration by a gravity, magnetic, electrostatic or flotation process; or
 (c) any other treatment:
 (i) that is applied to *minerals, or to quarry materials, before that concentration; or
 (ii) for a mineral or materials not requiring that concentration, that would, if the mineral or materials had required concentration, have been applied before the concentration;
but does not include:
 (d) sintering or calcining; or
 (e) producing alumina, or pellets or other agglomerated forms of iron, or processing connected with such production.

40‑880  Business related costs

Object
 (1) The object of this section is to make certain *business capital expenditure deductible over 5 years, or immediately in the case of some start‑up expenses for small businesses, if:
 (a) the expenditure is not otherwise taken into account; and
 (b) a deduction is not denied by some other provision; and
 (c) the business is, was or is proposed to be carried on for a *taxable purpose.
Note: If Division 250 applies to you and an asset:
(a) if section 250‑150 applies—you cannot deduct an amount for capital expenditure you incur in relation to the asset to the extent specified under subsection 250‑150(3); or
(b) otherwise—you cannot deduct an amount for such expenditure.

Deduction
 (2) You can deduct, in equal proportions over a period of 5 income years starting in the year in which you incur it, capital expenditure you incur:
 (a) in relation to your *business; or
 (b) in relation to a business that used to be carried on; or
 (c) in relation to a business proposed to be carried on; or
 (d) to liquidate or deregister a company of which you were a *member, to wind up a partnership of which you were a partner or to wind up a trust of which you were a beneficiary, that carried on a business.
 (2A) However, you can deduct the capital expenditure in the income year in which you incur it if:
 (a) the expenditure is incurred in relation to a business that is proposed to be carried on; and
 (b) the expenditure is incurred:
 (i) in obtaining advice or services relating to the proposed structure, or