Income Tax Assessment Act 1997
The annual exploration cap for an income year is the following amount: (a) for the 2017-18 income year - $15 million; (b) for the 2018-19 income year - $25 million, plus the *exploration credits remainder for the immediately preceding income year; (c) for the 2019-20 income year - $30 million, plus the exploration credits remainder for the immediately preceding income year and any other amount prescribed for the purposes of this paragraph; (d) for the 2020-21 income year - $30 million, plus the exploration credits remainder for the immediately preceding income year and any other amount prescribed for the purposes of this paragraph; (e) (f) (g) (h)
If the total amount of *exploration credits allocated by the Commissioner for an income year is less than the *annual exploration cap for the year, the difference is the exploration credits remainder for the income year.
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