Document ID: chunk:federal_register_of_legislation:C2021C00321:clause:1_15
Version: federal_register_of_legislation:C2021C00321
Segment Type: clause
Provision Reference: sch 1 cl 15
Character Range: 38396–39481

15  At the end of Division 130
Add:

Subdivision 130‑F—Exploration investments

130‑110  Reducing the reduced cost base before disposal
 (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:
where:
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.