The Tax and Superannuation Laws Amendment (2014 Measures No 3) Bill 2014 has passed the House of Reps without amendment and now moves to the Senate. It proposes to amend the capital allowances provisions in the ITAA 1997 to limit immediate deductibility of expenditure on mining rights and mining information.
DATE OF EFFECT: applies to transactions to acquire mining rights and mining information entered into after 7.30pm Australian Eastern Standard Time, 14 May 2013.
[LTN 106, 4/6/14]
Passed Senate and awaits Royal Assent on 19 June 2014
Tax and Superannuation Laws Amendment (2014 Measures No 3) Bill 2014 – amends the capital allowances provisions in the ITAA 1997 to limit immediate deductibility of expenditure on mining rights and mining information.
[LTN 116, 19/6/14]
Royal Assent
Tax and Superannuation Laws Amendment (2014 Measures No 3) Bill 2014 – received Royal Assent on 30 June 2014 as Act No 69 of 2014.
[LTN 123, 30/6/14]