Taxation Laws Amendment Act (No. 6) 2001 (169 of 2001)

Schedule 1   Petroleum Resource Rent Tax

Part 1   Sales gas

Petroleum Resource Rent Tax Assessment Act 1987

8   After subsection 97(1A)

Insert:

(1AA) If the whole or a part of the assessable petroleum receipts that would be taken into account in working out the current period liability were determined under subparagraph 24(1)(d)(i) or paragraph 24(1)(e) (the special calculation provisions ), then, in calculating the current period liability under subsection (1A):

(a) any assessable petroleum receipts determined under the special calculation provisions are to be excluded; and

(b) the amount worked out in accordance with the regulations in respect of those assessable petroleum receipts is to be included.