EC 2016/1
Commonwealth of Australia
This legislative instrument has been replaced by EC 2016/2 Exploration Development Incentive Modulation Factor - Declaration Instrument (No. 2) 2016Income Tax Assessment Act 1997
I, Jeremy Hirschhorn, Deputy Commissioner of Taxation, make this instrument as a delegate of the Commissioner of Taxation under subsection 418-90(1) of the Income Tax Assessment Act 1997.1. Name of Determination
This instrument is the Income Tax Assessment Act 1997 - Exploration Development Incentive Modulation Factor - Declaration Instrument (No. 1) 2016.
2. Commencement
This instrument commences on the day after its registration.
3. Application
The modulation factor for the purposes of working out an entity's maximum exploration credit amount for the 2016-17 income year is 1.00.
4. Determination (Who is covered by this Determination)
This instrument applies to an entity that may create exploration credits under Subdivision 418-D of the Income Tax Assessment Act 1997 for the 2015-16 income year and calculates its maximum exploration credit amount for that income year in accordance with the method statement in subsection 418-85(2) to subsection 418-85(5) of the Income Tax Assessment Act 1997.
5. Definitions
Terms used in this instrument have the same meaning as defined in the Income Tax Assessment Act 1997.
Dated 4 November 2016
Signed by Jeremy Hirschhorn
Deputy Commissioner of Taxation
Registration Number: F2016L01804
Registration Date: 25 November 2016
EC 2016/1 - Explanatory statement