Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 419 - Critical minerals (tax offset for Australian production expenditure)  

Subdivision 419-C - Registering activities and facilities for the CMPTI tax offset  

SECTION 419-35   Meaning of registered CMPTI processing activity  

419-35(1)    
A company has a registered CMPTI processing activity for an income year if:

(a)    the activity is registered for the company under subsection (2) ; or

(b)    a registration of the activity is transferred to the company under subsection 419-55(2) ;

and the registration is in force for the company and the income year.

Note:

For when the registration is in force, see section 419-50 . The registration will not be in force if:

(a) it has already expired (see section 419-50 ); or

(b) it is suspended or has been revoked (see section 419-65 or 419-70 ).

Initial registration

419-35(2)    
The * Industry Secretary must register an activity for a company if:

(a)    the company applies to the Industry Secretary for the activity to be registered under this subsection; and

(b)    the application identifies:

(i) the activity and each facility where the activity is to be carried on; and

(ii) the basis on which the company considers it will satisfy the requirements to be entitled to a * CMPTI tax offset in relation to the activity; and

(c)    the application states that the company is the legal entity that is or will be carrying on the activity at those facilities; and

(d)    the application is in a form approved under subsection 419-150(1) ; and

(e)    the Industry Secretary is satisfied that the activity is a * CMPTI processing activity; and

(f)    the Industry Secretary has no reason to believe that:

(i) the information provided by the company is not true, correct and complete; or

(ii) the company will not satisfy the requirements to be entitled to a CMPTI tax offset in relation to the activity; and

(g)    the company has paid the application fee (if any) prescribed by the regulations.

Note:

Any revocation of the registration does not prevent the company from applying under this subsection to re-register the activity. Any re-registration will not re-start the maximum 10-year period that the activity can be registered (see subsections 419-50(4) and (5) ).