• Exploration Development Incentive Participation form and instructions

    Participation in the Exploration Development Incentive (EDI) is voluntary.

    If you are an eligible company and intend to participate and create exploration credits, you are required to lodge an Exploration Development Incentive Participation (EDIP) form by the 30 September deadline.

    When we refer to you, or your company, or taxpayer, we are referring either to you as a business entity (the company) or to you as the public officer responsible for completing the EDIP form.

    These instructions are not a guide to income tax law. If they do not fully cover your circumstances, you can contact us at EDI@ato.gov.au or your registered tax adviser.

    Download the Exploration Development Incentive Participation (EDIP) form

    How to participate

    If you intend to participate in the EDI, you must complete and lodge your EDIP form by 30 September in the financial year corresponding to the income year you are creating the credits. For most taxpayers this will be by 30 September in the same year following the 30 June financial year end.

    If you are an eligible entity with a substituted accounting period (SAP) you must also complete and lodge your EDIP form by the September 30 deadline. You may have to estimate greenfields minerals expenditure you still expect to incur during the remainder of the income year.

    Completing the EDIP form

    Before you complete the form

    The EDIP form may be completed online and printed, however the information you type into the form cannot be saved to your computer.

    Do not use correction fluid or tape to make corrections. If you make a mistake, make your corrections electronically and print a new copy. When you have completed the EDIP form, print a copy for your own records and lodge it with us.

    Information about the EDIP form being lodged

    Specify the income year to which this form relates

    Type the income year to which the form you are lodging relates.

    If this is an amendment to a previous notification provide the amendment number

    Type a number into this section only if you are amending an earlier lodgment of an EDIP for the same income year. For example, if you have already lodged an EDIP for the 2015 income year and you are now lodging amended amounts, you would type ‘01’ into this section.

    We will use the amounts contained in Section B from your last lodged EDIP received on or before the final lodgment date of 30 September for the relevant income year. After this time we will not accept further notifications (original or amended) unless we have granted you an extension in relation to notifying of participation in this incentive.

    Section A: Entity details

    1. Enter the tax file number (TFN) of your entity

      We are authorised by the Taxation Administration Act 1953 to request you to quote your TFN. It is not an offence not to quote your TFN, but not quoting it can delay processing of the schedule
    2. Enter the Australian business number (ABN) of your entity
    3. Enter the name of your company

    Section B: Exploration development incentive details

    Section B will ask whether you were a greenfields minerals explorer in the previous income year – this is a ‘Yes’ or ‘No’ answer.        

    1. Select ‘No’ if you do not fit the criteria for a greenfields minerals explorer. In this case you would not submit the form
    2. Select ‘Yes’ if you intend to create and issue exploration credits to your shareholders and the following apply        
      1. you are a disclosing entity within the meaning of section 111AC of the Corporations Act 2001
      2. you are a constitutional corporation
      3. you have incurred greenfields minerals expenditure in the previous income year
      4. you have not carried on any mining operations for the extraction of minerals in the previous two income years
      5. you are not connected with, or an affiliate of, an entity that has carried on any mining operations for the previous two income years
       
    3. Enter the estimated amount of greenfields exploration expenditure incurred in the previous income year – this is your estimate of your greenfields minerals expenditure for the previous income year; it is expressed in whole dollars.

    See also:

    Section C: Declaration

    You will then need to include in the declaration:

    • name and daytime telephone number of the authorised person signing the form
    • position held of the authorised person signing the form
    • registered tax agent number, if applicable, of the person signing the form
    • authorised person’s signature
    • date the form was signed, and place a cross at the appropriate declaration statement applicable to the circumstances of the authorised person.

    Signing this schedule

    When the schedule is complete and printed, the authorised person for the company must sign the schedule. Signing the schedule means that a declaration has been made that the information contained in the schedule and in any attached documents is true and correct.

    Penalties may apply for false or misleading statements.

    How to lodge your EDIP form

    Make a copy of your EDIP form for your own records. You can lodge it:

    • online – sign in to the Business portal, navigate to mail, select ‘New message’ and the Exploration Development Incentive topic
    • by mail to

    Australian Taxation Office
    PO Box 3130
    PENRITH NSW 2740

    • by fax to 1300 730 298 – do not include a header or cover sheet as this will delay processing.
    Last modified: 23 Mar 2016QC 45722