This Commissioner’s practice outlines the Commissioner’s treatment of certain issues when assessing farm-in agreements and farm-in transactions.
Significant changes were made to the farm-in provisions of the Duties Act 2008 with effect from 2 November 2022, some of which apply to agreements dated on or after 28 November 2018 or 1 July 2008. Except where specified, this practice provides guidance on how the Commissioner will apply the provisions for transactions dated on or after 2 November 2022.
This Commissioner's practice deals with:
- Exploration requirements and administrative expenses
- Right to exploit a mining tenement or derivative mining right
- Variations to farm-in transactions
- Holding an interest in a derivative mining right
