Document ID: chunk:federal_register_of_legislation:C2025C00029:section:10:p26
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 10 (pt 26/29)
Character Range: 277761–280530

have to another entity if:
 (a) you continue to have the information; and
 (b) the information is, and continues to be, relevant to:
 (i) *geothermal energy extraction that you carry on or propose to carry on; or
 (ii) a *business that you carry on that includes *exploration or prospecting for *geothermal energy resources from which energy can be extracted by geothermal energy extraction; and
 (c) the amount you receive is not assessable as *ordinary income under section 6‑5.
It does not matter whether the information is generally available or not.
 (3) Geothermal exploration information is geological, geophysical or technical information that:
 (a) relates to the presence, absence or extent of *geothermal energy resources in an area; or
 (b) is likely to help in determining the presence, absence or extent of such resources in an area.
 (4) Geothermal energy extraction means operations that are for:
 (a) the extraction of energy from *geothermal energy resources; and
 (b) the *purpose of producing assessable income.

15‑45  Amounts paid under forestry agreements
 (1) Your assessable income includes an amount you receive under an agreement for the planting and tending of trees for felling if:
 (a) you are the manager of the agreement as mentioned in section 82KZMG of the Income Tax Assessment Act 1936; and
 (b) the amount satisfies, for the entity that paid it, the requirements of that section.
The amount is included for the income year in which the entity can claim a deduction for the amount.
 (2) No part of an amount included under subsection (1) is included in your assessable income for a later income year.

15‑46  Amounts paid under forestry managed investment schemes
 (1) Your assessable income includes an amount you receive under a *forestry managed investment scheme if:
 (a) you are the *forestry manager of the scheme, or an *associate of the forestry manager; and
 (b) the entity that paid the amount can deduct or has deducted the amount under section 394‑10 in relation to the scheme (disregarding subsection 394‑10(5)).
The amount is included for the income year for which the entity that paid the amount can or has claimed a deduction for it (disregarding subsection 394‑10(5)).
 (2) No part of an amount included under subsection (1) is included in your assessable income for a later income year.

15‑50  Work in progress amounts
  Your assessable income includes a *work in progress amount that you receive.
Note: To find out whether the amount is deductible to the payer, see section 25‑95.

15‑55  Certain amounts paid under funeral policy
 (1) Your assessable income includes the amount of a benefit provided to you by a *life insurance company under a *funeral policy issued after 31 December 2002 to pay for the funeral