Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 124.725

  (1)   Each part of a * prospecting entitlement or * mining entitlement that is part of the new entitlement is taken to be a separate * CGT asset to the extent that it relates to:

  (a)   land to which a prospecting entitlement or mining entitlement (that was part of the original entitlement) related where you * acquired the entitlement before 20   September 1985; and

  (b)   land to which a prospecting entitlement or mining entitlement (that was part of the original entitlement) related where you acquired the entitlement on or after 20   September 1985; and

  (c)   other land.

  (2)   You are taken to have * acquired each asset that is a separate * CGT asset because of paragraph   (1)(a) before 20   September 1985.