Commonwealth Consolidated Acts

PETROLEUM RESOURCE RENT TAX ASSESSMENT ACT 1987 - SECT 44

                   For the purposes of this Act, a reference to excluded expenditure is a reference to:

                     (a)  payments of principal or interest on a loan or other borrowing costs; or

                     (b)  interest components of hire‑purchase payments; or

                     (c)  payments of dividends or the cost of issuing shares; or

                     (d)  the repayment of equity capital; or

                     (e)  payments of a kind known as private override royalty payments; or

                      (f)  payments to acquire, or to acquire an interest in, an exploration permit, retention lease, production licence, pipeline licence or access authority, otherwise than in respect of the grant of the permit, lease, licence or authority; or

                     (g)  payments to acquire interests in petroleum project profits, receipts or expenditures; or

                     (h)  payments of tax under the Income Tax Assessment Act 1936 , or the Income Tax Assessment Act 1997 ; or

                      (i)  payments of GST under the GST Act; or

                      (j)  payments of administrative or accounting costs, or of wages, salary or other work costs, incurred indirectly in carrying on or providing operations, facilities or other things of a kind referred to in sections 37, 38 and 39; or

                     (k)  payments in respect of land or buildings for use in connection with administrative or accounting activities in respect of the carrying on or provision of other operations, facilities or things of a kind referred to in sections 37, 38 and 39, not being land or buildings located at or adjacent to the site or sites at which those other operations, facilities or things are carried on or provided.