1Income Tax Assessment Act 1997 – Exploration Development Incentive Modulation Factor – Declaration Instrument (No. 1) 2015

Legislative Instrument

Income Tax Assessment Act 1997 – Exploration Development Incentive Modulation Factor – Declaration Instrument (No. 1) 2015

I, 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.

Signed by Jeremy Hirschhorn

Deputy Commissioner of Taxation

Dated: 12 November 2015

1. Name of Determination

This instrument is the Income Tax Assessment Act 1997 – Exploration Development Incentive Modulation Factor – Declaration Instrument (No. 1) 2015.

2. Commencement

This instrument commences on the day after its registration.

3. Application

The modulation factor for the purposes of working out an entity’s maximum exploration credit amount for the 2015-16 income year is 1.

4. Determination (Who is covered by this Determination)

This 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.

5. Definitions

Terms used in this instrument have the same meaning as defined in the Income Tax Assessment Act 1997.