Document ID: chunk:federal_register_of_legislation:C2004A00844:clause:1_6:p17
Version: federal_register_of_legislation:C2004A00844
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 17/18)
Character Range: 156810–159686

contribution to an *exempt Australian government agency's capital expenditure on railway rolling‑stock).

40‑870  Meaning of transport facility

 (1) A transport facility is a railway, a road, a pipe‑line, a port facility or other facility for ships, or another facility, that is used primarily and principally for transport of:
 (a) *minerals or quarry materials obtained by any entity in carrying on *mining operations; or
 (b) *processed minerals produced from minerals or quarry materials.

 (2) However, a facility used for these is not a transport facility:
 (a) transport wholly within the site of *mining 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

 (1) You can deduct amounts for capital expenditure you incur that is one of these:
 (a) expenditure to establish a *business;
 (b) expenditure to convert your business structure to a different structure;
 (c) expenditure to raise equity for your business;
 (d) expenditure to defend your business against a takeover;
 (e) costs to your business of unsuccessfully attempting a takeover;
 (f) costs of liquidating a company that carried on a business and of which you are a shareholder;
 (g) costs to stop carrying on a business;
to the extent that the business is or was carried on for a *taxable purpose.

 (2) The amount you can deduct is 20% of the expenditure:
 (a) for the income year in which you incur it; and
 (b) for each of the next 4 income years.

 (3) However, you cannot deduct anything under this section for an amount of capital expenditure you incur to the extent that:
 (a) it forms part of the *cost of a *depreciating asset that you *hold; or
 (b) you can deduct an amount for it under