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

17   After subsection 230-460(17)

Insert:

Exploration benefits

(17A) A right or obligation that arises because of the provision of an *exploration benefit under a *farm-in farm-out arrangement is the subject of an exception.