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 5 - GENERAL RULES RELATING TO TRANSFER OF EXPLORATION EXPENDITURE  

21  

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