INCOME TAX ASSESSMENT ACT 1997 - SECT 418.150 Excess exploration credit tax
INCOME TAX ASSESSMENT ACT 1997 - SECT 418.150
Excess exploration credit taxAn entity is liable to pay * excess exploration credit tax for an income year if the sum of the * exploration credits it issues for the income year exceeds the amount worked out under section 418 - 151 for the income year (the complying exploration credit amount ).
Note: The tax is imposed by the Excess Exploration Credit Tax Act 2014
, and the amount of the tax is set out in that Act.