Income Tax Assessment Act 1997
CHAPTER 3
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SPECIALIST LIABILITY RULES
PART 3-45
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RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS
Division 418
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Exploration for minerals
Subdivision 418-B
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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:
(c) you are an Australian resident during the whole of that income year.
View history note
Hide history noteSECTION 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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