Document ID: chunk:federal_register_of_legislation:C2014A00069:clause:1_14
Version: federal_register_of_legislation:C2014A00069
Segment Type: clause
Provision Reference: sch 1 cl 14
Character Range: 9359–10475

14  After subsection 40‑295(1)
Insert:
 (1A) A balancing adjustment event occurs for a *depreciating asset you *hold that is a *mining, quarrying or prospecting right, or *mining, quarrying or prospecting information, if:
 (a) the only reason that subsection 40‑80(1) does not apply to the right or information is that the right or information does not meet the requirements of paragraph 40‑80(1)(d) or (e); and
 (b) you have neither budgeted nor planned for further expenditure that:
 (i) will relate to the tenement to which the right or information relates; and
 (ii) will exceed the minimum expenditure required to maintain the tenement; and
 (c) you choose to apply this subsection to the right or information.
 (1B) A balancing adjustment event occurs for a *depreciating asset you *hold that is a *mining, quarrying or prospecting right, or *mining, quarrying or prospecting information, if:
 (a) since the last time you commenced to hold the right or information, a *balancing adjustment event occurred, because of subsection (1A), to the right or information; and
 (b) paragraph (1A)(b) no longer applies.