Summary
Amends the:
Income Tax Assessment Act 1997
to replace the Exploration Development Incentive with the Junior Minerals Exploration Incentive, which will enable junior exploration companies undertaking greenfields minerals exploration to distribute their tax losses as a refundable tax offset to investors who have purchased newly issued shares; and
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Taxation Administration Act 1953
and
Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015
to make consequential amendments.