ANNOUNCEMENT 01 Jul 2015In July 2015, the government of Australia announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Information about the EDI
On 1 July 2015, Australia introduced the Exploration Development Incentive (henceforth: EDI), a tax-break programme worth 100 million AUD (ca. 70 million USD) supporting early-stage exploration projects. Before the programme was introduced, explorers were able to make tax-break claims only after sufficient revenue was generated.
The EDI will be in place for three years.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.