Petroleum Resource Rent Tax Assessment Amendment Act 2012 (18 of 2012)

Schedule 4   Starting base for onshore petroleum projects and the North West Shelf project

Part 2   Other amendments

Petroleum Resource Rent Tax Assessment Act 1987

20   Section 2 (at the end of the definition of long term bond rate )

Add:

; and (i) in relation to the financial year commencing on 1 July 2012 and any subsequent financial year - has the same meaning as in subsection 995-1(1) of the Income Tax Assessment Act 1997; and

(j) in relation to a period that is not a financial year - has the same meaning as in subsection 995-1(1) of the Income Tax Assessment Act 1997.