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-F - Other matters  

SECTION 419-145   CMPTI community benefit rules  

419-145(1)    
The Minister may, by legislative instrument, make the following rules (the CMPTI community benefit rules ):

(a)    rules that:

(i) apply to companies within a specified class for an income year; and

(ii) specify conditions that must be met for such a company to be entitled to a * CMPTI tax offset for the income year;

(b)    rules that:

(i) apply to companies within a specified class for an income year; and

(ii) specify circumstances that, if they exist for such a company, will reduce the amount of the company ' s CMPTI tax offset for the income year by a specified proportion.

Note:

For subparagraph (b)(ii) , different proportions may be specified for different circumstances (see subsection 33(3A) of the Acts Interpretation Act 1901 ).

419-145(2)    
In making the CMPTI community benefit rules, the Minister must have regard to the community benefit principles (within the meaning of subsection 10(3) of the Future Made in Australia Act 2024 ).

419-145(3)    
When doing so, the Minister is to treat this Division as if it were Future Made in Australia support (within the meaning of that Act).

419-145(4)    
This section does not apply if the Future Made in Australia Act 2024 has not commenced.