125‑20 Effect of transferred property125‑20 Effect of transferred property

#### 125‑20 Effect of transferred property (1) This section applies if: (a) any property, or any legal or equitable right that is not property, (the transferred property) is transferred to a new miner under the \*mining project split; and (b) the original miner used the transferred property in \*mining operations for the mining project interest; and (c) the transferred property: (i) gave rise to an amount of \*mining expenditure for the original miner, or another miner who preceded the original miner, in relation to the mining project interest; or (ii) is, or may become, a \*starting base asset, in relation to the mining project interest. (2) Despite section 30‑40, no amount is included in the original miner’s \*mining revenue for the mining project interest in relation to any part of the consideration for the transfer that relates to the transferred property. (3) For the new miner, any part of the consideration for the transfer that relates to the transferred property is taken, for the purposes of section 35‑35, to be expenditure relating to the acquisition of the mining project interest. (4) To avoid doubt, the \*mining project split, and the transfer of the transferred property, is not an event or circumstance giving rise to an adjustment under Division 160. > Note: Events or circumstances happening after the split may give rise to an adjustment under Division 160, for instance if the new miner uses the transferred property in relation to the mining project interest to a greater or lesser extent than the original miner.