Document ID: chunk:federal_register_of_legislation:C2025A00009:clause:2_1:p2
Version: federal_register_of_legislation:C2025A00009
Segment Type: clause
Provision Reference: sch 2 cl 1 (pt 2/17)
Character Range: 55194–58168

requirements in subsection (2) for the income year.
Note: The CMPTI tax offset is a refundable tax offset (see section 67‑23).

Residency requirements
 (2) The company satisfies the residency requirements in this subsection for the income year if, at all times during the income year in which any of the activities covered by paragraph (1)(c) are carried on:
 (a) the company:
 (i) is an Australian resident and has an *ABN; and
 (ii) is carrying on the activity; or
 (b) the company:
 (i) is a foreign resident that has a *permanent establishment in Australia and has an ABN; and
 (ii) is carrying on the activity through that permanent establishment.

419‑10  Amount of CMPTI tax offset
 (1) The amount of the *CMPTI tax offset for the income year is equal to 10% of the company's total *CMPTI expenditure referred to in paragraph 419‑5(1)(d).
 (2) However, if:
 (a) *CMPTI community benefit rules under paragraph 419‑145(1)(b) apply to the company for the income year; and
 (b) circumstances specified in those rules exist for the company;
the amount of the *CMPTI tax offset is reduced by the proportion specified in those rules for those circumstances.

419‑15  Meaning of critical mineral
 (1) Each of the following is a critical mineral:
 (a) antimony;
 (b) arsenic;
 (c) beryllium;
 (d) bismuth;
 (e) chromium;
 (f) cobalt;
 (g) fluorine;
 (h) gallium;
 (i) germanium;
 (j) graphite;
 (k) hafnium;
 (l) high purity alumina;
 (m) indium;
 (n) lithium;
 (o) magnesium;
 (p) manganese;
 (q) molybdenum;
 (r) nickel;
 (s) niobium;
 (t) each of the following platinum‑group elements:
 (i) iridium;
 (ii) osmium;
 (iii) palladium;
 (iv) platinum;
 (v) rhodium;
 (vi) ruthenium;
 (u) each of the following rare‑earth elements:
 (i) cerium;
 (ii) dysprosium;
 (iii) erbium;
 (iv) europium;
 (v) gadolinium;
 (vi) holmium;
 (vii) lanthanum;
 (viii) lutetium;
 (ix) neodymium;
 (x) praseodymium;
 (xi) promethium;
 (xii) samarium;
 (xiii) terbium;
 (xiv) thulium;
 (xv) ytterbium;
 (xvi) yttrium;
 (v) rhenium;
 (w) scandium;
 (x) selenium;
 (y) silicon;
 (z) tantalum;
 (za) tellurium;
 (zb) titanium;
 (zc) tungsten;
 (zd) vanadium;
 (ze) zirconium;
 (zf) a thing prescribed by the regulations.
 (2) The regulations must not prescribe uranium for the purposes of paragraph (1)(zf).

419‑20  Meaning of CMPTI processing activity
 (1) A CMPTI processing activity is a processing activity carried on at one or more facilities in Australia that:
 (a) involves substantially transforming a feedstock containing a *critical mineral through extractive metallurgical processing into a purer or more refined form of the critical mineral that is chemically distinct from the feedstock; or
 (b) is a processing activity that:
 (i) relates to one or more critical minerals; and
 (ii) is of a kind prescribed by the regulations; and
 (iii) produces an outcome of a kind prescribed by the regulations;
if a substantial purpose for carrying on the activity is to achieve the transformation