Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024 (37 of 2024)

Schedule 5   Petroleum resource rent tax deductions cap

Petroleum Resource Rent Tax Assessment Act 1987

1   Section 2 (definition of apportionment percentage figure)

Repeal the definition, substitute:

apportionment percentage figure :

(a) in relation to a year of tax - has the meaning given by subsection 2C(2); and

(b) in relation to any other period - has the meaning given by subsection 2C(3).