Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p41
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 41/95)
Character Range: 5652606–5655258

payable by an entity remains unpaid after the time by which it is due and payable; and
 (b) the Commissioner has not allocated the unpaid amount to an *RBA;
the entity is liable to pay the *general interest charge on the unpaid amount for each day in the period that:
 (c) starts at the beginning of the day on which the excess exploration credit tax or shortfall interest charge was due to be paid; and
 (d) ends at the end of the last day on which, at the end of the day, any of the following remains unpaid:
 (i) the excess exploration credit tax or shortfall interest charge;
 (ii) general interest charge on any of the excess exploration credit tax or shortfall interest charge.
Note: The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953.

418‑175  Refunds of amounts overpaid
  Section 172 of the Income Tax Assessment Act 1936 applies for the purposes of this Division as if references in that section to tax included references to *excess exploration credit tax.

418‑180  Record keeping
  Section 262A of the Income Tax Assessment Act 1936 applies for the purposes of this Division as if:
 (a) the reference in that section to a person carrying on a business were a reference to a *corporate tax entity; and
 (b) 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
 (c) paragraph (5)(a) of that section were omitted.

418‑185  Determining an entity not to be a greenfields minerals explorer
 (1) The Commissioner may determine, by written notice given to an entity that is, or has been, liable to pay *excess exploration credit tax for an income year, that the entity is no longer to be treated as a *greenfields minerals explorer.
 (2) The determination takes effect from:
 (a) if, at the time the notice is given, the entity has not issued any *exploration credits for the income year (the credit year) immediately preceding the income year in which the notice is given—the credit year; or
 (b) otherwise—the next income year.
 (3) If the entity or a *member of the entity is dissatisfied with a determination under subsection (1), the entity or member may object to it in the manner set out in Part IVC of the Taxation Administration Act 1953.

Subdivision 418‑G—Other matters

Table of sections
418‑190 Annual impact assessments of this Division

418‑190  Annual impact assessments of this Division
 (1) As soon as practicable after the end of each income year referred to in subsection (2), the Minister must cause to be conducted an impact assessment of the operation of