CA50330 - MEA: Qualifying expenditure: Acquisition of land: restriction of expenditure
One of the main categories of qualifying expenditure is that on the acquisition of a mineral asset.
»Ê¹ÚÌåÓýapp definition of ‘mineral assetâ€� in CAA01/S 397 includes mineral bearing land and any interest or right over such land.
However the effect of CAA01/S404 is to strip out any expenditure that represents the value of the land disregarding the presence of the minerals. »Ê¹ÚÌåÓýapprefore only the proportion of expenditure attributable to the mineral content of the land is qualifying expenditure.
»Ê¹ÚÌåÓýapp amount to be excluded is so much of the expenditure as is equal to the undeveloped market value of the interest.