Document ID: chunk:federal_register_of_legislation:C2004A00844:clause:1_6:p11
Version: federal_register_of_legislation:C2004A00844
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 11/18)
Character Range: 141679–144491

carry on, or will carry on, mining operations;
 (c) *minerals treatment of *minerals or minerals treatment of quarry materials, obtained by you in carrying on mining operations;
 (d) storing (whether before or after minerals treatment) such minerals, petroleum or quarry materials in relation to the operation of a *depreciating asset for use primarily and principally in treating such minerals or quarry materials;
 (e) liquefying natural gas obtained from mining operations you carry on.

 (2) A mining building site is a site, or a part of a site, where there are *depreciating assets that are or were necessary for you to carry on *mining operations. However, a mining building site does not include anything covered by the definition of housing and welfare.

40‑745  No deduction for certain expenditure

  Expenditure on these things is not deductible under section 40‑735:
 (a) acquiring land or an interest in land or a right, power or privilege to do with land;
 (b) a bond or security, however described, for performing *mining site rehabilitation;
 (c) *housing and welfare.

40‑750  Deduction for payments of petroleum resource rent tax

 (1) You can deduct a payment of *petroleum resource rent tax, or an *instalment of petroleum resource rent tax, that you make in an income year.

Note: If an amount of the expenditure is recouped, the amount may be included in your assessable income: see Subdivision 20‑A.

 (2) You cannot deduct under subsection (1) a payment that you make under paragraph 99(c) of the Petroleum Resource Rent Tax Assessment Act 1987.

 (3) These amounts are included in your assessable income for the income year in which they are refunded, credited, paid or applied:
 (a) an amount the Commissioner pays you in total or partial discharge of a debt of the kind referred to in subsection 47(1) of the Petroleum Resource Rent Tax Assessment Act 1987; or
 (b) an amount the Commissioner applies under subsection 47(2) of the Petroleum Resource Rent Tax Assessment Act 1987 in total or partial discharge of a liability you have.

40‑755  Environmental protection activities

 (1) You can deduct expenditure you incur in an income year for the sole or dominant purpose of carrying on *environmental protection activities.

 (2) Environmental protection activities are any of the following activities that are carried on by or for you:
 (a) preventing, fighting or remedying:
 (i) pollution resulting, or likely to result, from *your earning activity; or
 (ii) pollution of or from the site of your earning activity; or
 (iii) pollution of or from a site where an entity was carrying on any *business that you have acquired and carry on substantially unchanged as your earning activity;
 (b) treating, cleaning up, removing or storing:
 (i) waste resulting, or likely to result,