Document ID: chunk:federal_register_of_legislation:C2015A00130:clause:1_16
Version: federal_register_of_legislation:C2015A00130
Segment Type: clause
Provision Reference: sch 1 cl 16
Character Range: 32436–33198

16  After section 116‑110
Insert:

116‑115  Farm‑in farm‑out arrangements
 (1) If:
 (a) *CGT event A1 is the *disposal of part of your interest in a *mining, quarrying or prospecting right; and
 (b) the part is disposed of under a *farm‑in farm‑out arrangement; and
 (c) you have received an *exploration benefit in respect of the event happening;
in working out the *capital proceeds for the CGT event, treat as zero the *market value of the exploration benefit.
 (2) If:
 (a) *CGT event C2 arises as a result of an *exploration benefit being provided to you; and
 (b) the exploration benefit is provided under a *farm‑in farm‑out arrangement;
in working out the *capital proceeds for the CGT event, treat as zero the *market value of the exploration benefit.