A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999 (177 of 1999)
Schedule 8
Petroleum Resource Rent Tax Assessment Act 1987
14 Section 2
Insert:
market value , of a commodity, at a particular time, is its market value reduced by an amount equal to the amount of the input tax credit (if any) to which a person would be entitled if:
(a) the person had acquired the commodity at that time; and
(b) the acquisition had been solely for a creditable purpose.
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