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-F - Excess exploration credits  

SECTION 418-150   418-150   Excess exploration credit tax  


An entity is liable to pay *excess exploration credit tax for an income year if the sum of the *exploration credits it issues for the income year exceeds the amount worked out under section 418-151 for the income year (the complying exploration credit amount ).
Note:

The tax is imposed by the Excess Exploration Credit Tax Act 2014 , and the amount of the tax is set out in that Act.


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