Proposed Exploration Development Incentive
The government has released a consultation paper on a proposed Exploration Development Incentive, which is intended to provide an incentive for investment in junior mineral exploration companies. The incentive is intended to apply to expenditure made after 1 July 2014.
Fundamentally, the scheme will allow junior exploration companies to renounce their exploration losses and ‘distribute’ this ‘benefit’ to their members in the form of a refundable tax offset that is an ‘Exploration Credit’ — similar to the imputation system.
The government is currently requesting feedback and comments on the design of the Exploration Development Incentive, with the closing date for submissions being 4 April 2014. A list of the consultation questions is set out in annexure A…
Click on the link below to read the rest of the Minter Ellison briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Minter Ellison
News from The Lawyer
Briefings from Minter Ellison
This briefing sets out some high level issues to consider on a global M&A deal where the target is an Australian company or business or where downstream Australian subsidiaries are involved.
In this article, partner Karen Payne and senior associate Vasuki Sivaloganathan of Minter Ellison outline some important tax-related tasks for your business this year.