Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 418.150

    An 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.