Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 418.100

  (1)   An entity may apply to the Commissioner for a determination under section   418 - 101 allocating * exploration credits to the entity for an income year.

  (2)   The application must be made within 1 month before the start of the * financial year corresponding to the income year for which the allocation is sought.

  (3)   The application must:

  (a)   be * lodged electronically; and

  (b)   be in the * approved form; and

  (c)   include an estimate of:

  (i)   the entity's * greenfields minerals expenditure for the income year; and

  (ii)   the entity's * tax loss for the income year; and

  (iii)   the entity's * corporate tax rate for the income year.

  (4)   The Commissioner must give the entity:

  (a)   if the Commissioner makes a determination under section   418 - 101--a copy of the determination; or

  (b)   if the Commissioner decides to refuse the application--notice of that decision.