Mineral Extraction Allowances (MEAs) are available in respect of capital expenditure incurred in connection with mineral extraction (CAA 2001, Pt. 5, Ch. 1).
To qualify for relief, a person must be carrying on a mineral extraction trade (see ¶255-600) and must incur qualifying expenditure (see ¶255-650) (CAA 2001, s. 394(1)). Relief is not available to lessors of land containing minerals.
The relief applies to mineral extraction activities carried on worldwide, including sand and gravel extraction, hard rock mining, the oil sector and geothermal energy (CA 50110).
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