Treasury Laws Amendment (2021 Measures No. 4) Act 2021 (72 of 2021)

Schedule 2   Junior minerals exploration incentive extension

Income Tax Assessment Act 1997

8   After subsection 418-81(2)

Insert:

(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.