Section CX 42 — Income Tax Act 2007: Disposal of ownership interests in controlled petroleum mining entities

CX 42 Disposal of ownership interests in controlled petroleum mining entities Excluded income (1) The consideration that a person derives from disposing of shares or trust interests in a controlled petroleum mining entity is excluded income of the person. Application of Tax Administration Act 1994 (2) Section 65 of the Tax Administration Act 1994 applies when this section applies. Defined in this Act: consideration , controlled petroleum mining entity , dispose , excluded income , share Compare: 2004 No 35 s CX 36