Petroleum Resource Rent Tax Assessment Act 1987

SCHEDULE 1 - PROVISIONS RELATING TO INCURRING AND TRANSFER OF EXPLORATION EXPENDITURE ON OR AFTER 1 JULY 1990  

Sections 2 , 35A , 35B , 45A , 45B and 45D

PART 6 - RULES RELATING TO TRANSFER OF EXPLORATION EXPENDITURE BETWEEN GROUP COMPANIES  

30  

30   RULE - MUST BE A NOTIONAL TAXABLE PROFIT IN RELATION TO PROFIT COMPANY AND RECEIVING PROJECT  
The loss company may only transfer the expenditure to the profit company in relation to the receiving project and the transfer year if there is a notional taxable profit in relation to the profit company, the receiving project and the transfer year.