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 418-185   Determining an entity not to be a greenfields minerals explorer  

418-185(1)    
The Commissioner may determine, by written notice given to an entity that is, or has been, liable to pay *excess exploration credit tax for an income year, that the entity is no longer to be treated as a *greenfields minerals explorer.

418-185(2)    
The determination takes effect from:

(a) if, at the time the notice is given, the entity has not issued any *exploration credits for the income year (the credit year ) immediately preceding the income year in which the notice is given - the credit year; or

(b) otherwise - the next income year.

418-185(3)    
If the entity or a *member of the entity is dissatisfied with a determination under subsection (1), the entity or member may object to it in the manner set out in Part IVC of the Taxation Administration Act 1953 .