Commonwealth Coat of Arms of Australia


Income Tax Assessment Amendment (Exploration for Minerals) Regulations 2020

I, General the Honourable David Hurley AC DSC (Retd), GovernorGeneral of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 06 February 2020

David Hurley


By His Excellency’s Command

Michael Sukkar

Minister for Housing and Assistant Treasurer





1 Name

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

Income Tax Assessment Regulations 1997

1  Name

  This instrument is the Income Tax Assessment Amendment (Exploration for Minerals) Regulations 2020.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.


Commencement information

Column 1

Column 2

Column 3




1.  The whole of this instrument

The first 1 January, 1 April, 1 July or 1 October to occur after the day this instrument is registered.

1 April 2020

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Income Tax Assessment Act 1997.

4  Schedules

  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments


Income Tax Assessment Regulations 1997

1  At the end of Part 3A


Division 418Exploration for minerals

Subdivision 418DAExploration credits allocation

418103.01  Meaning of annual exploration cap—202021 income year

  For the purposes of paragraph 418103(1)(d) of the Act, the amount of $5 million is prescribed.