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 7 - COMPOUNDING OF TRANSFERRED AMOUNTS  

36  

36   MATTERS DEALT WITH IN THIS PART  
This Part applies if:

(a) a person transfers an amount of expenditure:

(i) to a petroleum project in relation to a financial year under section 45A ; or

(ii) to a company in relation to a petroleum project and a financial year under section 45B ; and

(b) the expenditure was incurred in an earlier financial year;

and provides for the compounding of the amount transferred. In this Part, the financial year in relation to which the amount is transferred is called the transfer year .