(1) This section applies if:
(a) an entity (the minerals explorer ) issues a * share in the minerals explorer to another entity (the investor ) during the 2017-18, 2018-19, 2019-20 or 2020-21 income year; and
(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.
(2) 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:
"investment period" means the period, within the income year in which the * share is issued to the investor, that:
(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.
Table of sections
132-1 Lessee incurs expenditure to get lease term varied or waived
132-5 Lessor pays lessee for improvements
132-10 Grant of a long-term lease
132-15 Lessee of land acquires reversionary interest of lessor