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INCOME TAX ASSESSMENT ACT 1997 - SECT 40.1105
Treatment of certain exploration benefits received under farm - in farm - out arrangements
If, under a * farm - in farm - out arrangement, you receive an *
exploration benefit in relation to the transfer of part of your interest in a
* mining, quarrying or prospecting right, the * termination value of the part
of the interest is reduced by the * market value of the exploration benefit.
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