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 418-130   Notifying the Commissioner of issuing or expiry of exploration credits  

418-130(1)  
An entity that has created *exploration credits for an income year (the credit year ) must notify the Commissioner of the issuing or expiry of the credits.

418-130(2)  
The notice must:


(a) be in the *approved form; and


(b) be given to the Commissioner on or before the due date:


(i) if the entity is an *investment body for *Part VA investments - for giving to the Commissioner an *annual investment income report in respect of the *financial year corresponding to the year immediately following the credit year; or

(ii) otherwise - for the entity to lodge its *income tax return for the income year that immediately follows the credit year.

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