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 418-110   Issuing exploration credits  

418-110(1)  
An entity that has created *exploration credits for an income year (the minerals explorer ) may issue an exploration credit for that income year to another entity (the investor ).

418-110(2)  
The *exploration credit issued to the investor for the income year may relate to:


(a) *exploration investment made by the investor in the minerals explorer in the income year; or


(b) exploration investment made by the investor in the minerals explorer in the immediately preceding income year.

However, this rule is subject to the limitations imposed under sections 418-115 , 418-116 and 418-120 .

418-110(3)  
An *exploration credit is issued to an entity by giving the entity a statement in the *approved form.


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