Income Tax Assessment Act 1997
View history note
Hide history noteThe 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 .
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