Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 855.20

    A * CGT asset is taxable Australian real property if it is:

  (a)   real property situated in Australia (including a lease of land, if the land is situated in Australia); or

  (b)   a * mining, quarrying or prospecting right (to the extent that the right is not real property), if the * minerals, * petroleum or quarry materials are situated in Australia.