Section DT 13 — Income Tax Act 2007: Disposal of ownership interests in controlled petroleum mining entities

DT 13 Disposal of ownership interests in controlled petroleum mining entities No deduction (1) A person who disposes of shares or trust interests in a controlled petroleum mining entity is denied a deduction for their cost. Application of Tax Administration Act 1994 (2) Section 65 of the Tax Administration Act 1994 applies when this section applies. Link with subpart DA (3) This section overrides the general permission. Defined in this Act: controlled petroleum mining entity , deduction , dispose , share , Compare: 2004 No 35 s DT 13