Petroleum Resource Rent Tax Assessment Regulations 2024

PART 4 - THE RESIDUAL PRICING METHOD  

Division 1 - The residual pricing method  

SECTION 32  

32   COSTS ARE NET OF GST TAX CREDITS AND ADJUSTMENTS  
A reference in this Part to a cost incurred by a person is a reference to the cost as decreased by:

(a)    an input tax credit to which the person is, or becomes, entitled; or

(b)    a decreasing adjustment.