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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 40 - Capital allowances    View history reference

Subdivision 40-I - Capital expenditure that is deductible over time    View history reference

Operative provisions

SECTION 40-875  Meaning of processed minerals and minerals treatment  

 View history reference [330-390]

40-875(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.

40-875(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.


 



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