Private ruling: Exploration (first use)
Date of advice: 3 December 2020
Published: January 2021

Ruling: Q1: Was the asset first used for exploration or prospecting in accordance with subsection 40-80(1)(a) of the Income Tax Assessment Act 1997 (ITAA 1997)? | A1: The Commissioner has ruled on this question. | Q2: Is the effective life of the asset x years in accordance with subsection 40-95(10A) of the ITAA 1997? | A2: The Commissioner has ruled on this question.