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-A - Tax offset for expenditure for producing critical minerals in Australia  

SECTION 419-10   Amount of CMPTI tax offset  

419-10(1)    
The amount of the * CMPTI tax offset for the income year is equal to 10 % of the company ' s total * CMPTI expenditure referred to in paragraph 419-5(1)(d) .

419-10(2)    
However, if:

(a)    * CMPTI community benefit rules under paragraph 419-145(1)(b) apply to the company for the income year; and

(b)    circumstances specified in those rules exist for the company;

the amount of the * CMPTI tax offset is reduced by the proportion specified in those rules for those circumstances.