Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 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:

Start formula The *corporate tax rate for the minerals explorer for the investment year times The amount of the investor's *exploration investment in the minerals explorer in the investment year end formula


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