Greater Sunrise Unitisation Agreement Implementation Act 2004 (47 of 2004)
Schedule 2 Amendment of other Acts
Petroleum Resource Rent Tax Assessment Act 1987
15 At the end of section 46
Greater Sunrise closing-down credits
(2) However, for the purposes of the operation of paragraph (1)(a) in relation to a Greater Sunrise project, the amount that is so much of the excess as does not exceed the amount of the closing-down expenditure is taken to be the amount worked out using the following formula:
(Initial excess * Apporitonment percentage figure) / 100
apportionment percentage figure has the meaning given by subsection 2C(2).
initial excess means the amount that is so much of the excess as does not exceed the amount of the closing-down expenditure under paragraph (1)(a) ignoring this subsection.