Document ID: chunk:federal_register_of_legislation:C2017C00211:clause:5_4
Version: federal_register_of_legislation:C2017C00211
Segment Type: clause
Provision Reference: sch 5 cl 4
Character Range: 37106–38288

4  At the end of section 15‑40
Add:
 (2) Your assessable income includes an amount you receive for providing *geothermal exploration information you 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.