Petroleum Resource Rent Tax Assessment Act 1987

PART V - LIABILITY TO TAXATION  

Division 3 - Deductible expenditure  

SECTION 42  

42   EXPENDITURE ON PROPERTY FOR PARTIAL PROJECT USE  
Where:

(a) a person incurs or incurred eligible real expenditure in relation to a petroleum project; and

(b) the eligible real expenditure is or was capital expenditure in respect of property for use only proportionally (the proportion of use of which is in this section referred to as the eligible proportion ) in carrying on or providing the operations, facilities or other things by reason of which the capital expenditure is eligible real expenditure of the person in relation to the project;

the eligible proportion only of the eligible real expenditure shall be taken for the purposes of this Act to be the eligible real expenditure.