Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 5   Petroleum exploration incentives

Petroleum Resource Rent Tax Assessment Act 1987

17   Application

(1) The amendments made by this Schedule (other than items 5 and 6) apply in respect of any exploration expenditure incurred (whether before or after this Schedule commences) where the eligible exploration or recovery area is a designated frontier area.

(2) The amendments made by items 5 and 6 apply in respect of any objection made (whether before or after that item commences) that has not yet been finally determined or otherwise disposed of.