Tax and Superannuation Laws Amendment (2015 Measures No. 2) Act 2015 (130 of 2015)

Schedule 1   Tax relief for certain mining arrangements

Part 2   Farm-in farm-out arrangements

Income Tax Assessment Act 1997

9   Subsection 40-300(3) (note)

Repeal the note, substitute:

Note 1: Termination value may be adjusted under Subdivision 27-B so that any GST consequences are accounted for.

Note 2: Termination value may be reduced under section 40-1105 to account for exploration benefits received under farm-in farm-out arrangements.