elect to release an amount corresponding to that excess, and 85% of the associated earnings on that excess, from the individual’s superannuation interests; or

elect not to release such an amount if the value of the individual’s superannuation interests is nil.

if the amount released as described in paragraph (3)(a) fell short of that excess—on that shortfall; or

on that excess, if the individual did not make either of those elections.

your non-concessional contributions exceed an indexed cap; and

you do not release a corresponding amount from your superannuation interests;

as a result, you release an amount from your superannuation interests; or

the value of your superannuation interests is nil.

you receive one or more *excess non-concessional contributions determinations for a *financial year that corresponds to the income year; and

(b) you make one or more elections under paragraph 96-7(1)(a) or (b) in Schedule 1 to the Taxation Administration Act 1953 in relation to those determinations.

(a) the sum of any amounts paid to you in response to release authorities issued in relation to those determinations (the total amount) is less than the amount of the excess stated in the most recent of those determinations; and

section 292-467 does not apply to you for the *financial year;

you receive one or more *excess non-concessional contributions determinations for the financial year; and

(b) the excess amount stated in the most recent of those determinations exceeds the sum of any amounts paid to you in response to release authorities issued, in relation to those determinations, under Taxation Administration Act 1953; andsection 96-12 in Schedule 1 to the

section 292-467 of this Act does not apply to you for the financial year.

if no amounts were paid to you as described in paragraph (1)(b)—the excess amount stated in that most recent determination; or

otherwise—the amount of the excess worked out under paragraph (1)(b).

if you receive one or more *excess non-concessional contributions determinations for the *financial year—before the end of:

the period of 60 days starting on the day you receive the most recent of those determinations; or

a longer period allowed by the Commissioner.

you receive one or more *excess non-concessional contributions determinations for the financial year; and

(b) as a result of those determinations, you make one or more elections under paragraph 96-7(1)(a) or (b) in Schedule 1 to the Taxation Administration Act 1953; and

in the case of elections under paragraph 96-7(1)(a) in that Schedule—the sum of any amounts paid to you in response to any release authorities issued in relation to those elections is less than the excess amount stated in the most recent of those determinations; and

the Commissioner is satisfied that the *value of all of your remaining *superannuation interests is nil.

you may object under section 292-245 against an *excess non-concessional contributions tax assessment made in relation to you on the ground that a direction was not made under this section; and

(b) for the purposes of paragraph (e) of Schedule 1 to the Administrative Decisions (Judicial Review) Act 1977, not making a direction under this section is a decision forming part of the process of making an assessment of tax under this Act.

(a) given by paragraph 97-25(1)(c) in Schedule 1 to the Taxation Administration Act 1953; and

affected by subsection 96-7(2) in that Schedule.

(a) an assessment against which a taxation objection may be made under Income Tax Assessment Act 1936;section 175A of the

(b) an excess non-concessional contributions determination (within the meaning of the Income Tax Assessment Act 1997);

(c) an assessment against which a taxation objection may be made under Income Tax Assessment Act 1997;section 292-245 of the

(d) a determination under Income Tax Assessment Act 1997, or a decision not to make a determination under that section;section 292-465 of the

(e) a direction under Income Tax Assessment Act 1997, or a decision not to make a direction under that section;section 292-467 of the

2 or more taxation decisions that are taken to be a single taxation decision under subsection (2).

a person makes a taxation objection at a particular time, on a particular ground, against a taxation decision to which this section applies; and

at that time, the person also objects, or could also object, on that ground, against another taxation decision to which this section applies;

the ground was a ground for an objection the person has made against another decision to which this section applies; or

the ground could have been a ground for an objection the person has made against another decision to which this section applies.

if the taxation objection is made on a particular ground under any of the following provisions:

(i) Income Tax Assessment Act 1936;section 175A of the

section 97-35 in Schedule 1 to this Act;

(iii) Income Tax Assessment Act 1997;section 292-245, 292-465 or 292-467 of the

up to 85% of your excess concessional contributions for a financial year; and

your non-concessional contributions that exceed your non-concessional contributions cap for the financial year, and 85% of any associated earnings.

elect to release the *total release amount stated in the determination from your *superannuation interests; or

elect not to release that total release amount if the value of your superannuation interests is nil; or

elect not to release that total release amount for some other reason.

if you made an election under paragraph (1)(a) for each earlier *excess non-concessional contributions determination you received for the *financial year—the sum of any amounts paid to you in response to release authorities issued in relation to those determinations; or

otherwise—the total release amount stated in the most recent of those earlier determinations.

one or more superannuation providers who hold one or more *superannuation interests for you; and

the amount each superannuation provider is to release.

be in the *approved form; and

be given to the Commissioner within:

60 days after the Commissioner issued notice of that determination; or

a further period allowed by the Commissioner.

you make a valid election under paragraph (1)(a); and

(b) the Commissioner gives you a notice under subsection 96-40(2) stating an amount (the unpaid amount) that a *superannuation provider did not pay in relation to the release authority issued in relation to that election;

60 days after the Commissioner issued the notice mentioned in paragraph (6)(b); or

a further period allowed by the Commissioner.

a *superannuation provider identified in the election; or

any other superannuation provider who holds one or more *superannuation interests for you.

state the total amount to be released by the *superannuation provider from *superannuation interests held by the provider for you; and

be dated; and

contain any other information that the Commissioner considers relevant.

the amount stated in the release authority; and

the sum of the *maximum available release amounts for each *superannuation interest held by the superannuation provider for the individual in *superannuation plans.

the amount stated in the release authority; and

the sum of the *maximum available release amounts for each *defined benefit interest held by the superannuation provider for the individual in *superannuation plans.

within 7 days after the release authority is issued, if the release authority was issued under section 96-10; or

within 21 days after the release authority is issued (or a further period allowed by the Commissioner), if the release authority was issued under section 96-12.

receives a notice from a *superannuation provider under subsection 96-35(2); or

does not receive a payment from a superannuation provider of the full amount stated in a release authority within the time mentioned in subsection 96-20(1) or 96-25(1).

the Commissioner receives a notice from a *superannuation provider under subsection 96-35(2); or

the individual does not receive a payment from a superannuation provider of the full amount stated in a release authority within the time mentioned in subsection 96-20(1A) or 96-25(2).

be in writing; and

identify the *superannuation provider; and

state how much of the amount stated in the release authority was not paid within the applicable time.

21 days after the release authority is issued; or

a further period allowed by the Commissioner.

the amount by which your non-concessional contributions exceed your non-concessional contributions cap; and

a proxy amount for your associated earnings on this excess; and

the total amount that can be released from your superannuation interests in relation to this excess and those earnings.

the amount of the excess; and

the amount of your associated earnings worked out under section 97-30; and

(c) the following amount (the total release amount):

starting on the first day of the contributions year; and

ending on the day the Commissioner makes the first *excess non-concessional contributions determination you receive for the contributions year.

the rate worked out under subsection 8AAD(1) for the first day of that period as if the base interest rate (within the meaning of subsection 8AAD(2)) for that day were the average of the base interest rates for each of the days of the contributions year; and

a rate determined under subsection (2) for the contributions year.

you are required under the Commissioner) in the *approved form by a particular day; andsection 96-42 (releasing superannuation) to give a notice to an entity (other than

you do not give the notice in the approved form to the entity by that day.

investigate complaints by taxpayers, tax practitioners or other entities about the administration of taxation laws; and

investigate administrative action taken under taxation laws, including systemic issues, that affect taxpayers, tax practitioners or other entities.

the Commissioner; or

a Second Commissioner of Taxation; or

a Deputy Commissioner of Taxation; or

(d) a person engaged under the Public Service Act 1999, or an employee or officer of an authority of the Commonwealth, performing duties in the Australian Taxation Office; or

a person engaged on behalf of the Commonwealth by another ATO official to provide services related to the administration of taxation laws; or

a person who:

is a member of a body established for the sole purpose of assisting the Commissioner in the administration of an aspect of taxation laws; and

receives, or is entitled to receive, remuneration (but not merely allowances) from the Commonwealth in respect of his or her membership of the body.

an ATO official; or

a Board member of the Tax Practitioners Board; or

(c) an APS employee assisting the Tax Practitioners Board as described in Tax Agent Services Act 2009; orsection 60-80 of the

a person engaged on behalf of the Commonwealth by another tax official (other than an ATO official) to provide services related to the administration of taxation laws; or

a person who:

is a member of a body established for the sole purpose of assisting the Tax Practitioners Board in the administration of an aspect of taxation laws; and

receives, or is entitled to receive, remuneration (but not merely allowances) from the Commonwealth in respect of his or her membership of the body.

to investigate action affecting a particular entity that:

is taken by a tax official; and

relates to administrative matters under a taxation law; and

is the subject of a complaint by that entity to the Inspector-General;

to investigate other action that:

is taken by a tax official; and

relates to administrative matters under a taxation law;

to investigate systems established by the Australian Taxation Office, or Tax Practitioners Board, to administer taxation laws, including systems for dealing or communicating:

with the public generally; or

with particular people or organisations;

to investigate systems established by taxation laws, but only to the extent that the systems deal with administrative matters;

to investigate action that is the subject of a part of a complaint:

(i) transferred to the Inspector-General by the Ombudsman under paragraph 6D(4)(b) of the Ombudsman Act 1976; or

that the Ombudsman advises, under paragraph 10(1)(b) of this Act, does not need to be transferred under subsection 10(1) of this Act;

to report on those investigations.

rules imposing or creating an obligation to pay an amount under a taxation law; and

rules dealing with the quantification of such an amount.

the Minister; or

the Commissioner or the Tax Practitioners Board; or

a resolution of either House, or of both Houses, of the Parliament; or

a resolution of a Committee of either House, or of both Houses, of the Parliament.

decide not to conduct an investigation into a complaint; or

if he or she has started such an investigation—decide not to continue investigating the action complained about;

the complaint is frivolous or vexatious or was not made in good faith; or

the complainant does not have a sufficient interest in the subject matter of the complaint; or

an investigation, or further investigation, of the action is not warranted having regard to all the circumstances; or

the complainant has not yet raised the complaint with the Commissioner or the Tax Practitioners Board (as applicable); or

the action came to the complainant’s knowledge more than 12 months before the complaint was made; or

the complainant has not exercised a right to cause the action to which the complaint relates to be reviewed by a court or by a tribunal constituted by or under a law of the Commonwealth.

a complaint made to the Inspector-General that is wholly about action other than tax administration action, unless the Ombudsman advises otherwise;

if part of a complaint made to the Inspector-General is not about tax administration action—that part of the complaint, unless the Ombudsman advises otherwise.

must consult the Ombudsman about the complaint or about complaints of that kind; and

may transfer to the Ombudsman the part of the complaint that is about tax administration action if the Inspector-General is satisfied that the whole complaint could be more appropriately or effectively dealt with by the Ombudsman.

notify the complainant in writing of that transfer; and

give the Ombudsman any related information or documents (other than tax file numbers) that are:

in the Inspector-General’s possession; or

under the Inspector-General’s control.

(a) the Inspector-General transfers the complaint under subsections 6(9) and (10), or Ombudsman Act 1976; orsection 6C, of the

subsection 6(17) of that Act applies in relation to the complaint.

(a) subsections 3(1), to the extent that it provides for the definitions of Agency Head, authorized person, Commonwealth service provider, disclosable conduct and law enforcement agency;

subsections 3(2) to (6) and subsection 3(7);

sections 3BA, 3C and 3D;

subsections 5(2), (3) and (3A);

section 5A;

subsections 6(5), (9) to (11) and (16) to (19);

sections 6C, 7 and 7A;

section 8, other than paragraphs (7A)(b) and (10)(ba) to (d) and subsections (8), (9), (10B), (10C) and (12);

sections 9 to 19, other than subsections 16(4) and (5);

sections 35AA to 37.

identifying a taxation law under which the action being investigated was taken; and

setting out any recommendations for how that taxation law might be improved; and

setting out the reasons for those recommendations.

(v) is the subject of a report under this Act, or the Ombudsman Act 1976 (as it applies because of section 15 of this Act), that relates to an investigation under this Act.

(v) is the subject of a report under this Act, or the Ombudsman Act 1976 (as it applies because of section 15 of this Act), that relates to an investigation under this Act.

the number of complaints received by the Inspector-General under this Act during the period; and

the number of investigations under paragraph 7(1)(a) or (b):

started during the period; and

completed during the period; and

the number of investigations into systemic issues:

started during that period; and

completed during that period; and

(d) the number of times when the Inspector-General has made a requirement of a person under Ombudsman Act 1976 (as it applies because of section 15 of this Act) during the period; andsection 9 of the

details of the circumstances in which each of those requirements under section 9 of that Act was made.

(a) the Inspector-General’s powers under the Ombudsman Act 1976 (as it applies because of section 15 of this Act), except for the Inspector-General’s powers under sections 15 to 19 of that Act;

the Inspector-General’s powers under subsections 36(3) and (4) of this Act to make arrangements and engage consultants (including determining the terms and conditions of their engagement).

(a) is the subject of a part of a complaint transferred to the Ombudsman under paragraph 10(2)(b) of the Inspector-General of Taxation Act 2003; or

is the subject of a part of a complaint that the Inspector-General of Taxation advises, under paragraph (3)(b) of this section, does not need to be transferred under subsection (3); or

is also action relating to a matter of administration under:

(i) the Public Interest Disclosure Act 2013; or

(ii) the Freedom of Information Act 1982; or

another Act (other than a taxation law) prescribed by regulations made for the purposes of this paragraph.

a complaint made to the Ombudsman that is wholly in respect of tax administration action;

if part of a complaint made to the Ombudsman is in respect of tax administration action—that part of the complaint, unless the Inspector-General advises otherwise.

must consult the Inspector-General of Taxation about the complaint or about complaints of that kind; and

may transfer to the Inspector-General the part of the complaint that is not in respect of tax administration action if the Ombudsman is satisfied that the whole complaint could be more appropriately or effectively dealt with by the Inspector-General of Taxation.

notify the complainant in writing of that transfer; and

give the Inspector-General of Taxation any related information or documents that are:

in the Ombudsman’s possession; or

under the Ombudsman’s control.

(a) the Inspector-General of Taxation Act 2003; or

(b) provisions of the Ombudsman Act 1976, to the extent that they are applied by the Inspector-General of Taxation Act 2003.

complaints made; or

investigations or reviews conducted on an entity’s own initiative that start;

(a) they were regulations under the Inspector-General of Taxation Act 2003; and

references in those regulations to the Ombudsman were references to the Inspector-General.

decide not to conduct an investigation into a complaint made at or after the commencement of this Schedule about particular action; or

if he or she has started such an investigation—decide not to continue investigating that action;

a payment to which paragraph 118-37(1)(ba) applies (about compensation paid through a trust); or

a payment to which subsection 118-300(1A) applies (about insurance and annuity payments paid through a trust); or

compensation or damages you receive for:

any wrong or injury you suffer in your occupation; or

any wrong, injury or illness you or your *relative suffers personally;

compensation or damages you receive as the trustee of a trust (other than a trust that is a *complying superannuation entity) for:

any wrong or injury a beneficiary of the trust suffers in his or her occupation; or

any wrong, injury or illness a beneficiary of the trust, or the beneficiary’s relative, suffers personally;

a *CGT asset you receive, as a beneficiary of a trust, from the trustee of the trust to the extent that the CGT asset is attributable to compensation or damages that the trustee receives as described in paragraph (b) for:

any wrong or injury you suffer in your occupation; or

any wrong, injury or illness you or your relative suffers personally;

you receive the CGT asset as:

a beneficiary of the trust; or

a *legal personal representative of a beneficiary of the trust; and

the CGT asset is attributable to another CGT event and CGT asset to which table item 3 in subsection (1) applies for the trustee.

a payment transferring a *superannuation interest of:

a member of a *superannuation fund; or

a depositor with an *approved deposit fund; or

a holder of an *RSA;

(b) a payment transferring an *accrued default amount of a member (within the meaning of the Superannuation Industry (Supervision) Act 1993) of a *complying superannuation fund to another complying superannuation fund:

as a result of an election under paragraph 29SAA(1)(b) of that Act; or

under section 388 of that Act;

that member becomes a member (within the meaning of that Act) of the other fund immediately after the transfer; and

the transfer happens during the period beginning on 1 July 2015 and ending on 1 July 2017; or

(c) a payment of consideration for the issue to a person of a beneficial interest in an eligible rollover fund (within the meaning of the Superannuation Industry (Supervision) Act 1993) in accordance with an application on behalf of that person under section 243 of that Act.

the superannuation benefit is an *involuntary roll-over superannuation benefit paid from a superannuation interest; and

that interest was supporting a superannuation income stream immediately before that benefit was paid;

(ia) disregard the *tax free component of an *involuntary roll-over superannuation benefit paid into the interest from another superannuation interest (the earlier interest) (other than an earlier interest that was supporting a *superannuation income stream immediately before that benefit was paid); and

if subparagraph (ia) applies—include as a contribution an amount equal to the amount referred to in subsection (5); and

if the *involuntary roll-over superannuation benefit is covered by paragraph 306-12(a) or (c)—the sum of the contributions segment, and crystallised segment, of the earlier interest immediately before the benefit was paid; or

if the benefit is covered by paragraph 306-12(b)—the proportion of that sum that the benefit was to the *value of the earlier interest immediately before the benefit was paid.

the later income stream commenced using only the amount of an involuntary roll-over superannuation benefit:

(i) covered by paragraph 306-12(a) of the Income Tax Assessment Act 1997; and

(ii) paid from a superannuation interest (the earlier interest); and

immediately before that benefit was paid:

(i) the earlier interest was supporting another superannuation income stream (the earlier income stream); and

section 307-125 of this Act applied to the earlier income stream because of subsection (1) of that section.

references in that section to the later income stream (in relation to a time, or event happening, before the payment of that involuntary roll-over superannuation benefit) include references to the earlier income stream; and

references in that section to the superannuation interest supporting the later income stream (in relation to a time, or event happening, before the payment of that benefit) include references to the earlier interest.

unless the benefit is an *involuntary roll-over superannuation benefit, give the individual in respect of whom the benefit is paid a statement in relation to the benefit within 30 days after the day on which the benefit is paid.

the *crystallised segment of the interest is reduced (but not below zero) by an amount equal to the *tax free component of the benefit; and

if any of that amount remains, the *contributions segment of the interest is reduced (but not below zero) by that remaining amount.

that were made after 30 June 2007; and

to the extent that they have not been and will not be included in the assessable income of the *superannuation provider in relation to the *superannuation plan in which the interest is held.

a member of a *superannuation fund; or

a depositor with an *approved deposit fund; or

a holder of an *RSA;

that other fund or RSA confers on that member, depositor or holder equivalent rights to the rights he or she had under the first-mentioned fund or RSA in respect of the interest;

the conferral of these equivalent rights was agreed, before the transfer, between:

the *superannuation provider of that other fund or RSA; and

the superannuation provider of the first-mentioned fund or RSA.

a court order (including a declaration or direction):

under a State law or Territory law; and

relating to unexplained wealth.

an *exploration credit is issued to you under Subdivision 418-E for the income year; and

you are not:

a *corporate tax entity; or

(ii) a trust (other than a trust in relation to which some or all of the liability of the trustee to tax is provided under subsection 98(1) or (2) or 99(2) or (3) of the Income Tax Assessment Act 1936); or

a partnership; or

an *exempt entity (other than an *exempt institution that is eligible for a refund); and

you are an Australian resident during the whole of that income year.

the entity is a *life insurance company; and

an *exploration credit is issued to the entity under Subdivision 418-E for the income year; and

the entity is an Australian resident during the whole of that income year; and

were the exploration credit to be a *franked distribution made:

by the same entity that issued the credit; and

in the same circumstances in which the credit was issued;

an *exploration credit is issued to a *life insurance company; and

paragraph (1)(d) applies in relation to only part of the exploration credit;

you are a *member of a trust or partnership during the income year; and

an *exploration credit is issued to the trust or partnership under Subdivision 418-E for the income year; and

the trust or partnership is not a *corporate tax entity; and

the trustee of the trust, or the partnership, determines that you are entitled to a share of the exploration credits issued to the trust or partnership for the income year; and

the trustee of the trust, or the partnership, gives you a statement, in accordance with subsection (4), informing you of that entitlement;

at the time of the determination referred to in paragraph (1)(d); and

in relation to the interest, held by the trust or partnership, in relation to which the exploration credit referred to in paragraph (1)(b) is issued to the trust or partnership during the income year;

was of the same amount as the amount of your share, referred to in paragraph (1)(d), of the exploration credit referred to in paragraph (1)(b); and

was made:

by the same entity that issued that exploration credit; and

in relation to the same interest in that entity; and

in the same circumstances in which that exploration credit was issued; and

*flowed indirectly through one or more trusts or partnerships that were the same as the one or more trusts or partnerships that, apart from subparagraphs 418-10(b)(ii) and (iii), would have been entitled to a *tax offset under this Subdivision in relation to:

that exploration credit; or

another exploration credit from which that exploration credit is directly or indirectly derived;

be in the *approved form; and

be given to you on or before the due date:

if the trust or partnership is an *investment body for *the Commissioner an *annual investment income report in respect of the *financial year corresponding to the income year; orPart VA investments—for giving to

otherwise—for the trust or partnership to lodge its *income tax return for the income year.

relates to all the statements that the trust or partnership has given under paragraph (1)(e) relating to exploration credits for that income year; and

is in the *approved form.

all the *exploration credits issued to you under Subdivision 418-E; and

all the exploration credits taken under section 418-20 to have been issued to you;

an entity is a trust; and

one or more *members of the trust are taken under section 418-20 to have been issued with one or more *exploration credits for an income year;

an *exploration credit is issued to the entity under Subdivision 418-E during an income year; and

if the entity were not a corporate tax entity, the entity would be entitled to a *tax offset under Subdivision 418-B in relation to the exploration credit.

the entity were not a *corporate tax entity; and

no other *exploration credits were issued to the entity during the income year.

an *exploration credit is issued to the life insurance company under Subdivision 418-E during an income year; and

paragraph 418-15(1)(d) does not apply in relation to the exploration credit; and

if that paragraph were to apply in relation to the credit, the life insurance company would be entitled to a *tax offset under Subdivision 418-B in relation to the exploration credit.

the entity was a *greenfields minerals explorer in the previous income year; and

on or before 30 September in the *financial year corresponding to the income year, the entity has given to the Commissioner, in the *approved form, a declaration stating:

their estimated *tax loss for the previous income year; and

their estimated *greenfields minerals expenditure, for the previous income year.

(a) before the legislative instrument under Legislative Instruments Act 2003; orsection 418-90 declaring the modulation factor for the income year has been registered under Division 2 of Part 4 of the

for the 2018-19 income year or a later income year.

the entity has *greenfields minerals expenditure for the income year; and

(b) during the income year, the entity is a disclosing entity (Corporations Act 2001); andwithin the meaning of section 111AC of the

during the income year, the entity is a *constitutional corporation; and

during the income year, and during the immediately preceding income year, neither:

the entity; nor

any other entity that is *connected with or is an *affiliate of the entity;

the entity fails to comply with a request of the Commissioner under subsection 418-80(5);

a determination under section 418-185 has effect.

the amounts of any deductions to which the entity is entitled under section 40-25 for that income year in relation to declines in value that:

are declines in value of *depreciating assets used for *exploration or prospecting for *minerals in an area to which subsection (3) of this section applies; and

are worked out under subsection 40-80(1); and

the amounts of any deductions for that income year to which the entity is entitled in relation to expenditure:

that is of a kind referred to in subsection 40-730(1); and

in relation to which the entity satisfies one or more of paragraphs 40-730(1)(a) to (c); and

that is expenditure on exploration or prospecting for minerals in an area to which subsection (3) of this section applies.

matters other than:

declines in value of *depreciating assets used for; or

expenditure on;

exploration or prospecting for *petroleum or oil shale; or

activities (such as feasibility studies) undertaken to identify the viability of a mineral resource rather than its existence.

that is in Australia; and

in relation to which the entity *holds a *mining, quarrying or prospecting right at the time of incurring the expenditure; and

that has not been identified as containing a mineral resource that is at least inferred in a report prepared in accordance with the requirements of:

unless subparagraph (ii) applies—the document that is known as the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves and that took effect on 20 December 2012; or

such other document as the regulations prescribe; and

that is not, and is not in, any of the following:

(i) the coastal sea of Australia (Acts Interpretation Act 1901);within the meaning of subsection 15B(4) of the

(ii) an offshore area for the purpose of the Offshore Petroleum and Greenhouse Gas Storage Act 2006;

(iii) the Joint Petroleum Development Area (within the meaning of the Petroleum (Timor Sea Treaty) Act 2003).

use of assets referred to in paragraph (1)(a); or

expenditure referred to in paragraph (1)(b).

is of the kind referred to in paragraph (3)(c); and

relates to an area in relation to which the entity has *greenfields minerals expenditure for the income year.

the entity’s estimated *tax loss for the previous income year, as stated in the entity’s declaration under paragraph 418-70(1)(b);

the entity’s actual tax loss for the previous income year;

the entity’s estimated *greenfields minerals expenditure for the previous income year, as stated in the entity’s declaration under paragraph 418-70(1)(b);

the entity’s actual greenfields minerals expenditure for the previous income year.

all *recoupments that the entity receives in relation to the entity’s *greenfields minerals expenditure for the previous income year; and

any part of the entity’s tax loss for the previous income year that would not be deductible in the current income year; and

if:

an amount has been included in the entity’s assessable income because a *balancing adjustment event occurs for a *depreciating asset; and

all or part of the amount of the deduction to which the entity is entitled under section 40-25 for the previous income year in relation to the decline in value of the asset is included in the entity’s greenfields minerals expenditure for that income year;

all *recoupments that the entity receives in relation to the entity’s greenfields minerals expenditure for the previous income year; and

if:

an amount has been included in the entity’s assessable income because a *balancing adjustment event occurs for a *depreciating asset; and

all or part of the amount of the deduction to which the entity is entitled under section 40-25 for the previous income year in relation to the decline in value of the asset is included in the entity’s greenfields minerals expenditure for that income year;

the 2015-16 income year;

the 2016-17 income year;

the 2017-18 income year.

for the 2015-16 income year—$25 million;

for the 2016-17 income year—$35 million;

for the 2017-18 income year—$40 million.

use the information provided in declarations under paragraph 418-70(1)(b) for the previous income year; and

disregard the possible application of any modulation factor.

are*equity interests; and

are held by the members.

the statements under subsection (2) are given to the *members on or before the first 30 June after the day on which the modulation factor in respect of the income year is declared under section 418-90; and

the issuing of credits complies with section 418-120.

are*equity interests; and

have come into existence on or after 1 July 2014.

if the entity has made a choice under section 418-115—the total number of *shares in the entity that:

are *equity interests held by the member; and

have come into existence on or after 1 July 2014;

are equity interests held by any members of the entity; and

have come into existence on or after that day; or

otherwise—the total number of shares in the entity that are equity interests held by the member, expressed as a percentage of the total number of the shares in the entity that are equity interests held by any members of the entity.

be in the *approved form; and

be given to the Commissioner on or before the due date:

if the entity is an *investment body for *the Commissioner an *annual investment income report in respect of the *financial year corresponding to the income year; orPart VA investments—for giving to

otherwise—for the entity to lodge its *income tax return for the income year.

*excess exploration credit tax or *shortfall interest charge payable by an entity remains unpaid after the time by which it is due and payable; and

the Commissioner has not allocated the unpaid amount to an *RBA;

starts at the beginning of the day on which the excess exploration credit tax or shortfall interest charge was due to be paid; and

ends at the end of the last day on which, at the end of the day, any of the following remains unpaid:

the excess exploration credit tax or shortfall interest charge;

general interest charge on any of the excess exploration credit tax or shortfall interest charge.

the reference in that section to a person carrying on a business were a reference to a *corporate tax entity; and

the reference in paragraph (2)(a) of that section to the person’s income and expenditure were a reference to the entity’s liability to pay *excess exploration credit tax; and

paragraph (5)(a) of that section were omitted.

if, at the time the notice is given, the entity has not issued any *exploration credits for the income year in which the notice is given—that income year; or

otherwise—the next income year.

an exploration credit being issued to the taxpayer where the whole or a part of that exploration credit would not have been issued, or might reasonably be expected not to have been issued, to the taxpayer if the scheme had not been entered into or carried out; or

in a case where paragraph (bba) applies—the amount of the whole of the exploration credit or of the part of the exploration credit, as the case may be, referred to in that paragraph; and

(i) the issuing of the exploration credit to the taxpayer is attributable to the making of a choice under Income Tax Assessment Act 1997; andDivision 418 of the

the scheme consisted solely of the making of the choice.

the issuing of an exploration credit to a taxpayer;

the whole or a part of an exploration credit not being issued to the taxpayer;

in the case of a tax benefit that is referable to an exploration credit, or a part of an exploration credit, being issued to the taxpayer—determine that:

the whole or a part of an exploration development incentive tax offset that would otherwise be allowable to the taxpayer in relation to the exploration credit, or the part of the exploration credit, as the case may be, is not to be allowable to the taxpayer; or

the whole or a part of a franking credit that would otherwise arise in the franking account of the taxpayer in relation to the exploration credit, or the part of the exploration credit, as the case may be, is not to arise in the franking account of the taxpayer;

if, in the opinion of the Commissioner:

an amount would have been allowed, or would be allowable, to the relevant taxpayer as an exploration development incentive tax offset if the scheme had not been entered into or carried out, being an amount that was not allowed or would not, apart from this subsection, be allowable, as the case may be, as an exploration development incentive tax offset to the relevant taxpayer; and

it is fair and reasonable that the amount, or a part of the amount, should be allowable as an exploration development incentive tax offset to the relevant taxpayer;

if, in the opinion of the Commissioner:

an amount of a franking credit would have arisen, or would arise, in the franking account of the relevant taxpayer in relation to an exploration credit, being an amount that did not arise, or would not, apart from this subsection, have arisen, as the case may be, in the franking account of the relevant taxpayer in relation to the exploration credit; and

it is fair and reasonable that the amount, or a part of the amount, should arise, in the franking account of the relevant taxpayer in relation to the exploration credit;

the company transferring the amount is a *greenfields minerals explorer; and

the amount is transferred in connection with the creation of *exploration credits.

(h) Subdivision 418-B of the Income Tax Assessment Act 1997 (the exploration development incentive tax offset).

(g) Subdivision 418-B of the Income Tax Assessment Act 1997 (the exploration development incentive tax offset).

beginning at the start of the day on which *excess exploration credit tax under your first assessment for that income year was due to be paid, or would have been due to be paid if there had been any; and

ending at the end of the day before the day on which the Commissioner gave you notice of the amended assessment.

(a) definition of exploration credit;

(b) definition of exploration development incentive tax offset.

(a) definition of annual investment income report;

(b) definition of excess exploration credit tax;

(c) definition of exploration credit;

(d) definition of greenfields minerals expenditure;

(e) definition of greenfields minerals explorer;

(f) definition of maximum exploration credit amount.

any act done or omitted to be done; or

any state of affairs existing; or

any period ending;

making or amending an assessment (including under a provision that is itself repealed or amended);

exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);

a provision or part of a provision that is repealed or amended by Part 3 of this Schedule provides for the payment of:

(i) general interest charge or shortfall interest charge (within the meaning of the Income Tax Assessment Act 1997); or

(ii) interest under the Taxation (Interest on Overpayments and Early Payments) Act 1983; and

(b) in a particular case, the period in respect of which the charge or interest is payable (whether under the provision or under the Taxation Administration Act 1953) has not begun, or has begun but not ended, when the provision is repealed or amended;

(a) the period of review (Taxation Administration Act 1953) for that assessment has ended; andwithin the meaning of section 155-35 in Schedule 1 to the

when that period of review ended, you did not hold a *tax invoice for the creditable acquisition.

(a) notices given under Income Tax Assessment Act 1997 on or after the commencement of this item; andsection 290-170 of the

notices of variation given under section 290-180 of that Act on or after the commencement of this item (whether the notices being varied were given before, on or after the commencement of this item).

if section 41 applies to the expenditure—the company taken under subparagraph 41(1)(a)(ii) to have made the payment of the expenditure held the loss interest in the transferring entity.

starting on 7 July 2010; and

ending on the day before the commencement of this item;

4 years after the last day allowed to the person for lodging a return relating to the assessment of the assessable amount to which the ruling relates.

tax periods starting after the day this Act receives the Royal Assent; or

payments or refunds that:

do not relate to any tax period; and

relate to liabilities or entitlements that arise after the day this Act receives the Royal Assent.

the covered entity is a *legal practitioner representing the primary entity in relation to the primary entity’s affairs relating to one or more *taxation laws; or

(ba) the covered entity is a public officer (Income Tax Assessment Act 1936) of the primary entity; orwithin the meaning of section 252 or 252A of the

the Crime and Corruption Commission of Queensland; or

any amount of class 1 GDP factor expenditure actually incurred by the person in relation to the project in the financial year, being expenditure incurred more than 5 years before the earlier of the following:

the day specified in the production licence notice in relation to the project;

the day the production licence was issued in relation to the project; and