Farm-in agreement concessions for transfer duty

Transfer duty concessions apply to certain types of eligible farm-in agreements, where one party (the farmee) spends a stated amount for exploration and development of land subject to an exploration authority held by another party (the farmor) in return for an interest in the authority.

To be eligible for the concessions, you must have either a deferred farm-in agreement or an upfront farm-in agreement. Agreements that have elements of both deferred and upfront farm-in agreements are not eligible for the concessions.

If the only consideration for your farm-in agreement is an exploration amount (the amount spent on exploration activities), transfer duty will not apply to your agreement.

Transfer duty will apply to any other consideration that is not an exploration amount - for example:

  • payments for entering into a farm-in agreement
  • payments for mining information
  • payments (other than exploration amounts) to transfer interests in exploration authorities.

As a farmee, you have ongoing obligations when claiming a concession. The obligations for upfront farm-in agreements differ from those for deferred farm-in agreements.

This guide explains when concessions for farm-in agreements are available, how to claim them and the requirements for keeping them.

Contact

Office of State Revenue

  • Call 1300 300 734 (Australia) or
    +61 7 3179 2500 (overseas)
  • Send an email using our online enquiry form.