LIABILITY RULES OF GENERAL APPLICATION
CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE
Farm-in farm-out arrangements
Consequences for transferors
Treatment of certain exploration benefits received under farm-in farm-out arrangements
If, under a *farm-in farm-out arrangement, you receive an *exploration benefit in relation to the transfer of part of your interest in a *mining, quarrying or prospecting right, the *termination value of the part of the interest is reduced by the *market value of the exploration benefit.