(1) An amount of * mining capital expenditure or * transport capital expenditure you incur is a project amount if:
(a) it does not form part of the * cost of a * depreciating asset you * hold or held; and
(b) you cannot deduct it under a provision of this Act outside this Subdivision; and
(c) it is directly connected with:
(i) for mining capital expenditure--carrying on the * mining and quarrying operations in relation to which the expenditure is incurred; or
(ii) for transport capital expenditure--carrying on the * business in relation to which the expenditure is incurred.
(2) Another amount of capital expenditure you incur is also a project amount so far as:
(a) it does not form part of the * cost of a * depreciating asset you * hold or held; and
(b) you cannot deduct it under a provision of this Act outside this Subdivision; and
(c) it is directly connected with a project you carry on or propose to carry on for a * taxable purpose; and
(d) it is one of these:
(i) an amount paid to create or upgrade community infrastructure for a community associated with the project; or
(ii) an amount incurred for site preparation costs for depreciating assets (except, for * horticultural plants, in draining swamp or low - lying land or in clearing land); or
(iii) an amount incurred for feasibility studies for the project; or
(iv) an amount incurred for environmental assessments for the project; or
(v) an amount incurred to obtain information associated with the project; or
(vi) an amount incurred in seeking to obtain a right to * intellectual property; or
(vii) an amount incurred for ornamental trees or shrubs.