Regulation Impact Statement – Department of Industry
On 4 December 2014 the Government introduced the Tax and Superannuation Laws Amendment (2014 Measures No. 7) Bill 2014 to provide a refundable tax offset to shareholders who invest in small mineral exploration companies undertaking greenfields mineral exploration in Australia. Exploration credits are capped at $25 million for expenditure incurred in 2014-15, $35 million for 2015-16 and $40 million for 2016-17. A Regulation Impact Statement (RIS) was prepared and certified by the Department of Industry, and has been assessed as compliant and consistent with best practice by the Office of Best Practice Regulation. The RIS estimates the average annual regulatory cost, depending on the level of participation in the EDI scheme, may range from $13,723 if there is 10 per cent participation (40 companies) to $68,616 for 50 per cent participation (200 companies). The OBPR has agreed to the regulatory costs and offsets.
- Exploration Development Incentive RIS [
218KB] - Exploration Development Incentive RIS [
270KB] - Exploration Development Incentive OBPR Assessment Advice – RIS [ 153KB]
- Exploration Development Incentive OBPR Assessment Advice – RIS [ 56KB]
- Exploration Development Incentive Deputy Secretary Certification Letter [ 803KB]
- Exploration Development Incentive Deputy Secretary Certification Letter [ 59KB]