Commonwealth Numbered Acts

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INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 330.35

No deduction for amount "transferred" by seller of right or information 
You cannot deduct an amount of expenditure if:

   (a)  you were the seller in an agreement under section 330- 235 for the
        acquisition of a *mining, quarrying or prospecting right or

*mining, quarrying or prospecting information; and

   (b)  the amount was taken into account under paragraph 330-245(2)(b) in
        working out the limit on the amount that can be included in the
        agreement.

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