The Income Tax Point-in-Time Service has been updated to include the Income Tax Assessment Amendment (Exploration for Minerals) Regulations 2020 (Cth).
These regulations amend the Income Tax Assessment Regulations 1997 to maximise the utilisation of exploration credits under the junior minerals exploration tax incentive by increasing the amount of the annual exploration cap for the 2020-21 income year that is available to be allocated by Commissioner of Taxation under the incentive.
These new amendments have been updated in the Point-in-Time Income Tax Service current to 10 February 2020. (NB: subscription required).
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