Income Tax (Consequential Amendments) Act 1997 (39 of 1997)

Schedule 1   Consequential amendments of the Income Tax Assessment Act 1936

12   Paragraph 23(pa)

Add at the end:

Note: Subdivision 330-B of the Income Tax Assessment Act 1997 gives a genuine prospector an exemption from paying income tax on income derived in the 1997-98 year of income or a later year of income from the sale, transfer or assignment of rights to mine on a mining tenement in Australia.