Petroleum Resource Rent Tax Assessment Act 1987

PART V - LIABILITY TO TAXATION  

Division 3 - Deductible expenditure  

SECTION 32  

32   DEDUCTIBLE EXPENDITURE  
For the purposes of this Act, a reference to the deductible expenditure incurred by a person in a financial year in relation to a petroleum project (not being an ineligible project in relation to the financial year) is a reference to the total expenditure of the following kinds incurred by the person in the financial year in relation to the project:

(a)    class 1 augmented bond rate general expenditure;

(b)    class 1 augmented bond rate exploration expenditure;

(c)    

class 2 uplifted general expenditure;

(d)    class 1 GDP factor expenditure;

(e)    

class 2 uplifted exploration expenditure;

(f)    class 2 GDP factor expenditure;

(fa)    

resource tax expenditure;


(fb) (Repealed by No 43 of 2019)

(fc)    

starting base expenditure;

(fd)    

augmented denied deductible expenditure;

(g)    closing-down expenditure.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.