in a case where the asset is *mining, quarrying or prospecting information:

you acquired the asset from an Australian government agency or a government entity; or

the asset is a geophysical or geological data package you acquired from an entity to which subsection (1AA) applies; or

you created the asset, or contributed to the cost of its creation; or

you caused the asset to be created, or contributed to the cost of it being created, by an entity to which subsection (1AA) applies.

carry on *mining and quarrying operations; or

it would be reasonable to conclude propose to carry on such operations; or

carry on a business of, or a business that included, *exploration or prospecting for *minerals or quarry materials obtainable by such operations.

your first use of the asset, after the inclusion of the amount in the second element, is for *exploration or prospecting for *minerals, or quarry materials, obtainable by *mining and quarrying operations; and

at the time of that first use:

you satisfy paragraph (1)(b) as if that first use was your first use of the asset; and

you satisfy paragraph (1)(c) as if the time of that first use was the asset’s *start time; and

if the amount relates to a *mining, quarrying or prospecting right—after the inclusion of the amount in the second element, you satisfy paragraph (1)(d) in relation to the right; and

if the amount relates to *mining, quarrying or prospecting information—after the inclusion of the amount in the second element, you satisfy paragraph (1)(e) in relation to the information.

the fact that subsection (1) does not apply to the asset does not prevent the application of subsection (1AB) to an amount included in the second element of the *cost of the asset; but

subsection (1) only affects the asset’s decline in value to the extent that the asset’s cost consists of that amount.

a *mining, quarrying or prospecting right; or

*mining, quarrying or prospecting information;

the period that would, apart from this subsection, be the effective life of the information or right under subsection (10); and

15 years.

a mine or proposed mine; or

a petroleum field or proposed petroleum field; or

a quarry or proposed quarry.

because of changed circumstances relating to an existing or proposed mine, petroleum field or quarry to which that right or information relates; or

because that right or information now relates to an existing or proposed mine, petroleum field or quarry; or

because that right or information no longer relates to an existing or proposed mine, petroleum field or quarry.

if the *depreciating asset is a *mining, quarrying or prospecting right or *mining, quarrying or prospecting information:

subsections 40-95(10) and (11) (if the right or information relates to an existing or proposed mine, petroleum field or quarry); or

subsection 40-95(12) (if the right or information no longer relates to an existing or proposed mine, petroleum field or quarry).

the only reason that subsection 40-80(1) does not apply to the right or information is that the right or information does not meet the requirements of paragraph 40-80(1)(d) or (e); and

you have neither budgeted nor planned for further expenditure that:

will relate to the tenement to which the right or information relates; and

will exceed the minimum expenditure required to maintain the tenement; and

you choose to apply this subsection to the right or information.

since the last time you commenced to hold the right or information, a *balancing adjustment event occurred, because of subsection (1A), to the right or information; and

paragraph (1A)(b) no longer applies.

(a) the entity starts to hold the right or information through exercising a right (an acquisition right) to acquire the right or information; and

the entity has held the acquisition right continuously since immediately before the time referred to in that subitem; and

the terms and conditions for exercising the acquisition right (including the consideration given or to be given for the acquisition right) were agreed before that time.