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29 May 12 Extending deductibility of exploration expenditure to geothermal energy explorers

On 24 March 2011 the Government announced changes to the income tax law to extend the immediate deductibility of exploration expenditure provided to mining and petroleum explorers to geothermal energy explorers.

Treasury has now released for public consultation exposure draft legislation and explanatory material for the proposed amendments.

The closing date for submissions is Friday, 22 June 2012.


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