New Business Tax System (Capital Allowances - Transitional and Consequential) Act 2001 (77 of 2001)

Schedule 2   General consequential amendments

Income Tax Assessment Act 1997

194   At the end of Division 15

Add:

15-40 Providing mining, quarrying or prospecting information

Your assessable income includes an amount you receive for providing *mining, quarrying or prospecting information to another entity if:

(a) you continue to *hold the information; and

(b) the amount you receive is not assessable as *ordinary income under section 6-5.