Mineral-extraction allowances (MEAs) are available for expenditure incurred on a trade of mineral extraction.

To obtain MEAs, the taxpayer must carry on a ‘trade of mineral extraction’, i.e. a trade which consists of or includes the working of a ‘source of mineral deposits’, including exploration and gaining access thereto or restoration within a three-year period thereafter. A ‘source of mineral deposits’ includes a mine, an oil well and a source of geothermal energy (CAA 2001, s. 394). Pre-trading expenditure is subject to special rules (CAA 2001, s. 401).

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