Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 330.170

(1) If:

   (a)  a *mining authority is granted; and

   (b)  it is the first or only mining authority that is related to a
        particular *cash bidding exploration or prospecting authority; and

   (c)  immediately before the grant of the mining authority you have one or
        more *qualifying interests in relation to the *exploration or
        prospecting authority and you also have an *entitlement to an eligible
        cash bidding amount in relation to the exploration or prospecting
        authority; you are taken for the purposes of this Division to have
        incurred, when the mining authority is granted, capital expenditure in
        relation to the qualifying interest or interests of an amount equal to
        the eligible cash bidding amount.

(2) A cash bidding exploration or prospecting authority is an

*exploration or prospecting authority in respect of which an

*exploration or prospecting cash bidding payment is or was made.

(3) You have a qualifying interest in relation to an *exploration or
prospecting authority if you are the holder of, or of an interest in, the
authority or a *retention authority that is related to it.