Australia:

New Tax Benefits for Australian Geothermal Explorers (Mondaq)

(Courtesy CIA World Fact Book)

Exposure draft legislation released this week will allow geothermal explorers to access immediate tax write offs and deductions for exploration expenses in certain circumstances.

The new rules will apply to assets first used after 1 July 2012, and will give geothermal exploration entities the same ability to claim immediate tax deductions and depreciation on certain assets as miners and other exploration companies.

Read More.....