The Exploration Development Incentive (EDI) legislation passed through Parliament earlier this year and is effective from 1 July 2014. Companies who believe they are eligible should be recording their eligible greefields mineral exploration expenditure and submit to the Australian Taxation Office (ATO) by 30 September 2015.

The Association of Mining and Exploration Companies (AMEC) held EDI road shows in Sydney and Brisbane for members and the EDI was the focus of a panel discussion at the AMEC Convention in Perth. AMEC will hold road shows in other States and Territories later this year.

AMEC has been working closely with the ATO and Treasury to develop useful guidance material which is now available online.

The Tax and Superannuation Laws Amendment (2014 Measures No. 7) Bill 2014 is also available online. (Refer schedule 6 for information pertaining to the EDI).

AMEC has worked closely with the Federal Government to develop and implement the EDI.  More information is available from Simon Bennison, AMEC CEO, info@amec.org.au.

From AMEC April-June 2015 Newsletter