Section DT 16 — Income Tax Act 2007: Removal or restoration operations

DT 16 Removal or restoration operations Deduction (1) A petroleum miner is allowed a deduction for expenditure that they incur on removal or restoration operations. Timing of deduction (2) The deduction is allocated to the income year in which the expenditure is incurred. Relationship with section EA 2 (3) This section overrides section EA 2 (Other revenue account property). Link with subpart DA (4) This section supplements the general permission and overrides the capital limitation. The other general limitations still apply. Defined in this Act: capital limitation , deduction , general limitation , general permission , income year , petroleum miner , removal or restoration operations , supplement , Compare: 2004 No 35 s DT 16