Petroleum Resource Rent Tax Assessment Amendment Act 2012 (18 of 2012)
Schedule 2 Assessable receipts
Part 1 Amendments commencing on 1 July 2012
Petroleum Resource Rent Tax Assessment Act 1987
11 At the end of Division 2 of Part V
Add:
31AA Eligible real expenditureonshore petroleum projects and the North West Shelf project
Despite section 45, this Division applies in relation to:
(a) an onshore petroleum project; or
(b) the North West Shelf project; or
(c) a project in relation to which an onshore petroleum project is a pre-combination project;
as if eligible real expenditure could be incurred in relation to such a project at any time, including a time before 1 July 2012.
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