Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 418 - Exploration for minerals  

Subdivision 418-E - Issuing exploration credits  

SECTION 418-120  

418-120   The total of all exploration credits issued in relation to exploration investment  


The total amount of all *exploration credits issued by an entity (the minerals explorer ) to another entity (the investor ) in relation to *exploration investment made by the investor in the minerals explorer in an income year (the investment year ) must not exceed the amount worked out using the following formula:


The corporate tax rate for the minerals explorer for the investment year × The amount of the investor ' s *exploration investment in the minerals explorer in the investment year


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