Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Act 2019 (43 of 2019)

Schedule 2   Removing onshore projects from the petroleum resource rent tax

Part 1   Amendment of the Petroleum Resource Rent Tax Assessment Act 1987

Petroleum Resource Rent Tax Assessment Act 1987

40   Section 31AA

Repeal the section, substitute:

31AA Eligible real expenditure - North West Shelf project

Despite section 45, this Division applies in relation to the North West Shelf project as if eligible real expenditure could be incurred in relation to the project at any time, including a time before 1 July 2012.