Section CU 23 — Income Tax Act 2007: Meaning of mining development expenditure

CU 23 Meaning of mining development expenditure Meaning (1) Mining development expenditure means development expenditure that a mining company incurs in its mining operations or associated mining operations. Inclusions (2) Mining development expenditure includes expenditure that the company incurs— (a) on acquiring land as a site for its mining operations or associated mining operations: (b) on preparing the site for its mining operations or associated mining operations: (c) on restoring the site during or after its mining operations or associated mining operations: (d) on any of the following for its mining operations or associated mining operations: (i) buildings, mineshafts, platforms, tunnels, wells, or other improvements: (ii) plant or machinery, including vehicles: (iii) production equipment or facilities: (iv) storage facilities: (e) on vessels or aircraft for use wholly or mainly in its mining operations or associated mining operations: (f) on providing, or contributing to the cost of providing, communication equipment, fuel, light, power, or water for the site of its mining operations or associated mining operations: (g) on buildings or facilities that— (i) are situated at, or adjacent to, the site of any of its mining operations or associated mining operations; and (ii) are for use in the education, housing, or welfare of, or the supply of meals to, its employees in or connected with its mining operations or associated mining operations or in the education, housing, or welfare of, or the supply of meals to, the employees’ dependants: (h) on providing, or contributing to the cost of providing, communication equipment, fuel, light, power, or water for the buildings or facilities described in paragraph (g). Exclusions (3) Mining development expenditure does not include expenditure that the company incurs— (a) on a building or facility provided for the purpose of deriving income; or (b) on or in relation to an office building that is not situated at, or adjacent to, the site of any of its mining operations or associated mining operations. Resident mining operators and non-resident mining operators (4) This definition applies to resident mining operators as if they were mining companies, and to non-resident mining operators as if they were mining companies, mining operations were mining ventures, and associated mining operations were mining ventures. Defined in this Act: associated mining operations , employee , income , mining company , mining development expenditure , mining operations , mining venture , non-resident mining operator , resident mining operator , Compare: 2004 No 35 s CU 23