Treasury Laws Amendment (2021 Measures No. 4) Act 2021 (72 of 2021)
Schedule 2 Junior minerals exploration incentive extension
Income Tax Assessment Act 1997
2 Section 418-1 (paragraph beginning "A greenfields minerals explorer")
Repeal the paragraph, substitute:
A greenfields minerals explorer can create exploration credits for an income year. Before creating exploration credits, the explorer must obtain an allocation of exploration credits from the Commissioner for the year. Exploration credits cannot be created for the 2025-26 income year or later income years.
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