Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 40.1125

    If:

  (a)   you * hold a * depreciating asset that is * mining, quarrying or prospecting information; and

  (b)   under a * farm - in farm - out arrangement, you receive an * exploration benefit; and

  (c)   an amount or expenditure would, apart from this section, be included in the second element of the * cost of the asset;

do not include that amount or expenditure in the second element to the extent (if any) that it is reasonably attributable to the exploration benefit.