INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 418 - Exploration for minerals  

Subdivision 418-B - Junior minerals exploration incentive tax offset  

Entitlement to junior minerals exploration incentive tax offset

SECTION 418-10   418-10   Who is entitled to the tax offset - ordinary case  


You are entitled to a *tax offset for an income year if:


(a) an *exploration credit is issued to you under Subdivision 418-E for the income year; and


(b) you are not:


(i) a *corporate tax entity; or

(ii) a trust (other than a trust in relation to which some or all of the liability of the trustee to tax is provided under subsection 98(1) or (2) or 99(2) or (3) of the Income Tax Assessment Act 1936 ); or

(iii) a partnership; or

(iv) an *exempt entity (other than an *exempt institution that is eligible for a refund); and


(c) you are an Australian resident during the whole of that income year.


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