Document ID: chunk:federal_register_of_legislation:C2018C00085:clause:6_2:p13
Version: federal_register_of_legislation:C2018C00085
Segment Type: clause
Provision Reference: sch 6 cl 2 (pt 13/13)
Character Range: 113919–115170

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 in which the notice is given—that income 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.

Part 2—Other amendments

Income Tax Assessment Act 1936