Submission to Treasury on the Exploration Development Incentive exposure draft legislation

The Australian minerals industry welcomes the release of the draft legislation to implement the Government’s Exploration Development Incentive (EDI).

This submission represents the views of the minerals industry for and on behalf of:

  • The Minerals Council of Australia (MCA);
  • The Chamber of Minerals and Energy of Western Australia;
  • Queensland Resources Council;
  • The New South Wales Minerals Council;
  • South Australian Chamber of Mines and Energy;
  • Tasmanian Minerals and Energy Council; and
  • The Victorian and Northern Territory Branches of the Minerals Council of Australia.

The industry has advocated for a number of years the need to address the tax asymmetry whereby junior explorers with no taxable income are not able to benefit from the immediate deduction for exploration. The industry supports the introduction of the EDI to overcome this tax asymmetry and encourage exploration to help ensure a future pipeline of resource projects in Australia.

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