Commonwealth Numbered Acts

INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 330.25

(1) Minerals includes *petroleum.

(2) Petroleum means:

   (a)  any naturally occurring hydrocarbon, whether in a gaseous, liquid or
        solid state; or

   (b)  any naturally occurring mixture of hydrocarbons, whether in a gaseous,
        liquid or solid state; or

   (c)  any naturally occurring mixture of:

        (i)    one or more hydrocarbons, whether in a gaseous, liquid or solid
               state; and

        (ii)   one or more of the following: hydrogen sulphide, nitrogen,
               helium or carbon dioxide; or

   (d)  any petroleum as defined by paragraph (a), (b) or (c) that has been
        returned to a natural reservoir.

(3) Quarry materials means any materials obtained by quarrying.