Commonwealth Consolidated Acts

PETROLEUM RESOURCE RENT TAX ASSESSMENT ACT 1987 - SECT 32

                   For the purposes of this Act, a reference to the deductible expenditure incurred by a person in a financial year in relation to a petroleum project (not being an ineligible project in relation to the financial year) is a reference to the total expenditure of the following kinds incurred by the person in the financial year in relation to the project:

                     (a)  class 1 augmented bond rate general expenditure;

                     (b)  class 1 augmented bond rate exploration expenditure;

                     (c)  class 2 augmented bond rate general expenditure;

                     (d)  class 1 GDP factor expenditure;

                     (e)  class 2 augmented bond rate exploration expenditure;

                      (f)  class 2 GDP factor expenditure;

                     (g)  closing‑down expenditure.