PETROLEUM RESOURCE RENT TAX ASSESSMENT REGULATIONS 2005 (REPEALED)
A capital cost for an integrated operation is reduced for a number of years by applying the formula:
| Capital cost × (1 − Capital allowance) N |
where:
(a) for paragraph 35(4)(b) - the capital allowance for the MPC production year;
(b) for subregulation 35(5) - the capital allowance for the year of tax of the start date for the capital cost.
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