Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024 (37 of 2024)
Schedule 5 Petroleum resource rent tax deductions cap
Petroleum Resource Rent Tax Assessment Act 1987
15 At the end of clause 14 of Schedule 1
Add:
(2) Augmented denied deductible expenditure taken to be incurred by a person in a financial year in relation to the notional project is not deductible expenditure actually incurred by the person in relation to the notional project in the financial year.
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