{"id":"F2015L01857","name":"Income Tax Assessment Act 1997 – Exploration Development Incentive Modulation Factor – Declaration Instrument (No. 1) 2015","slug":"income-tax-assessment-act-1997-exploration-development-incentive-modulation-factor-declaration-instr","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":93647,"registerId":"commonwealth-F2015L01857-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Income Tax Assessment Act 1997 – Exploration Development Incentive Modulation Factor – Declaration Instrument (No. 1) 2015","content":"Legislative Instrument\n\nIncome Tax Assessment Act 1997 – Exploration Development Incentive Modulation Factor – Declaration Instrument (No. 1) 2015\n\nI, Jeremy Hirschhorn, Deputy Commissioner of Taxation, make this instrument as a delegate of the Commissioner of Taxation under subsection 418‑90(1) of the Income Tax Assessment Act 1997.\n\nSigned by Jeremy Hirschhorn\n\nDeputy Commissioner of Taxation\n\nDated: 12 November 2015\n\n1.  Name of Determination\n\nThis instrument is the Income Tax Assessment Act 1997 – Exploration Development Incentive Modulation Factor – Declaration Instrument (No. 1) 2015.\n\n2. Commencement\n\nThis instrument commences on the day after its registration.\n\n3. Application\n\nThe modulation factor for the purposes of working out an entity’s maximum exploration credit amount for the 2015-16 income year is 1.\n\n4. Determination (Who is covered by this Determination)\n\nThis instrument applies to an entity that may create exploration credits under Subdivision 418-D of the Income Tax Assessment Act 1997 for the 2015-16 income year and calculates its maximum exploration credit amount for that income year in accordance with the method statement in subsection 418-85(2) to subsection 418-85(5) of the Income Tax Assessment Act 1997.\n\n5. Definitions\n\nTerms used in this instrument have the same meaning as defined in the Income Tax Assessment Act 1997.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2292},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The instrument remains strictly limited to its original purpose of declaring the annual modulation factor for the Exploration Development Incentive as authorised by subsection 418-90(1) of the ITAA 1997."},"complexity_factors":["Single operative provision containing only a numerical value (1)","No defined terms within the instrument itself","No conditional logic, exceptions, or cross-references between provisions","Extremely short (5 sections total)"],"plain_english_summary":"This instrument sets the **modulation factor** at **1** for the 2015-16 financial year.\n\n**What this does:**\nUnder the Exploration Development Incentive, small mineral exploration companies searching for new mineral deposits can convert their exploration spending into tax credits for investors. The Tax Commissioner sets a yearly \"modulation factor\" that determines how much of their spending can be turned into these credits.\n\n**Who it affects:**\nSmall mineral exploration companies calculating their maximum exploration credits for the 2015-16 tax year.\n\n**Why it matters:**\nA factor of 1 means companies can create credits based on their full eligible exploration spending (subject to other limits). The Commissioner can adjust this factor up or down in future years depending on demand for the program."}},"importantCases":[],"_links":{"self":"/api/acts/income-tax-assessment-act-1997-exploration-development-incentive-modulation-factor-declaration-instr","history":"/api/acts/income-tax-assessment-act-1997-exploration-development-incentive-modulation-factor-declaration-instr/history","analysis":"/api/acts/income-tax-assessment-act-1997-exploration-development-incentive-modulation-factor-declaration-instr/analysis","conflicts":"/api/acts/income-tax-assessment-act-1997-exploration-development-incentive-modulation-factor-declaration-instr/conflicts","importantCases":"/api/acts/income-tax-assessment-act-1997-exploration-development-incentive-modulation-factor-declaration-instr/important-cases","documents":"/api/acts/income-tax-assessment-act-1997-exploration-development-incentive-modulation-factor-declaration-instr/documents"}}