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Capital Allowances Act 2001


1363.This Chapter introduces mineral extraction allowances. They are given on qualifying expenditure and are only available to mineral extraction traders.

1364.Section 394 sets out the basic conditions for entitlement to mineral extraction allowances and some definitions for this Part.

1365.Section 395 gives the meaning of qualifying expenditure and points to more detailed definitions and exceptions regarding qualifying expenditure.

1366.Sections 396 and 397 give the meaning of the key terms “mineral exploration and access” and “mineral asset”.

1367.Section 398 is a tie-breaker rule if expenditure might otherwise be on both mineral exploration and access and on a mineral asset.

1368.Section 399 sets out expenditure that cannot be qualifying expenditure.

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