Income Tax Assessment Act 1997

Div 418 inserted by No 21 of 2015, s 3 and Sch 6 item 2, applicable from the 2017-18 to 2021-25 income years, allowing a distribution in those years. The Exploration Development Incentive (EDI) applied from the 2014-15 to 2016-17 years of income, replaced by the Junior Minerals Exploration Incentive (JMEI), of broadly similar operation, applicable for an initial period from the 2017-18 to 2020-21 years of income, extended for a further 4 years, for the 2021-22 to 2024-25 years of income, by Act No 72 of 2021, Sch 2.

Subdiv 418-F inserted by No 21 of 2015, s 3 and Sch 6 item 2, applicable in relation to the 2015-16, 2016-17 and 2017-18 income years. For application and transitional provisions relevant to subsequent years see note under Subdiv 418-DA heading.

S 418-150 amended by No 15 of 2018, s 3 and Sch 1 item 3, by substituting " the amount worked out under section 418-151 for the income year (the complying exploration credit amount ). " for " the entity ' s *maximum exploration credit amount for the income year. " , effective 1 April 2018. For application and transitional provisions, see note under Subdiv 418-DA heading.

S 418-150 inserted by No 21 of 2015, s 3 and Sch 6 item 2, applicable in relation to the 2015-16, 2016-17 and 2017-18 income years, but not in relation to any later income years. However, see amendments in Act No 72 of 2021 that extend the operation of Div 418 for the 2021-22 to 2024-25 years of income and note under Div 418 heading.