35‑70 Rehabilitation bond and trust paym35‑70 Rehabilitation bond and trust payments

#### 35‑70 Rehabilitation bond and trust payments (1) An amount of expenditure is excluded expenditure to the extent that it is provided as security (however described) for rehabilitation of the \*project area for a mining project interest. (2) An amount of expenditure that is incurred by a trustee or bondholder out of an amount provided as security as mentioned in subsection (1) is taken to have been incurred by a miner in relation to a mining project interest to the extent that: (a) the amount is for rehabilitation of an area; and (b) the area is the \*project area for the mining project interest the miner has at the time the amount is incurred; and (c) if more than one miner has a mining project interest in relation to that project area at that time—the rehabilitation reasonably relates to the mining project interest. > Note: The trustee or bondholder is required to give the miner the information it needs to determine the extent, if any, to which the amount is mining expenditure for the miner: see Division 121 in Schedule 1 to the Taxation Administration Act 1953.