Treasury Laws Amendment (Junior Minerals Exploration Incentive) Act 2018 (15 of 2018)

Schedule 1   Junior minerals exploration incentive

Part 1   Main amendments

Income Tax Assessment Act 1997

5   Section 418-160

Repeal the section, substitute:

418-160 Returns

An entity that is liable to pay *excess exploration credit tax for an income year (the credit year ) must give the Commissioner a return relating to excess exploration credit tax, in the *approved form, within 21 days after the end of the *financial year corresponding to the income year that immediately follows the credit year.