Capital allowances: treatment of open pit mine site improvements - TR 2012/D3
10 May 2012
On 9 May 2012, the ATO released for public comment by 20 June 2012 draft Taxation Ruling TR 2012/D3 entitled "Income tax: capital allowances: treatment of open pit mine site improvements".
The draft Ruling considers the operation of the capital allowance rules in Division 40 of ITAA 1997 to open pit mine site improvements.
At the same time, the following 4 ATO Interpretative Decisions were withdrawn:
- ATO ID 2007/11 (Withdrawn) Capital Allowances: depreciating asset - composite asset - open-cut mine pit haulage road
- ATO ID 2007/12 (Withdrawn) Capital Allowances: depreciating assets - open-cut mine benches, batters, berms and catchberms
- ATO ID 2007/13 (Withdrawn) Capital Allowances: depreciating asset - composite asset - all open-cut mine pit haulage roads
- ATO ID 2007/14 (Withdrawn) Depreciating Assets: composite item - open-cut mine pit