Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An entity has an exploration credits allocation for an income year if the Commissioner makes a determination under section 418 - 101 allocating the entity * exploration credits for the income year.
(2) The amount of the entity's exploration credits allocation for the income year is the amount of * exploration credits allocated to the entity under the determination.
(2A) However, if no * exploration investment is made in the entity in the income year, the amount of the entity's exploration credits allocation for the income year is nil.
Note: The entity must notify the Commissioner if no exploration investment is made in the entity in the income year: see section 418 - 135.
(3) If no determination is made allocating * exploration credits to the entity for the income year, the amount of the entity's exploration credits allocation for the year is nil.