Income Tax Assessment Act 1997
This section applies if: (a) (b) the Commissioner makes a determination under section 418-101 allocating exploration credits to the minerals explorer for the income year in which the share is issued; and (c) the share is issued to the investor on or after the day on which the Commissioner ' s determination is made; and (d) the share is an *equity interest.
The *reduced cost base of the *share is to be reduced immediately before the disposal of the share by the amount worked out as follows:
|The *corporate tax rate for the minerals explorer for the income year in which the *share is issued||×||The amount paid up by the investor on the share during the investment period|
(a) begins on the day on which the Commissioner makes the determination mentioned in paragraph (1)(b); and
(b) ends at the end of the income year.