Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 418.81

Meaning of exploration credits allocation for an income year

             (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.

             (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.



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