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

58   Subparagraph 48(1)(a)(ib)

Omit ", and the look-back approach is not the valuation approach for vendor's interest in the project under Part 2 of Schedule 2".