Petroleum Resource Rent Tax Assessment Act 1987

SCHEDULE 1 - PROVISIONS RELATING TO INCURRING AND TRANSFER OF EXPLORATION EXPENDITURE ON OR AFTER 1 JULY 1990  

Sections 2 , 35A , 35B , 45A , 45B and 45D

PART 5 - GENERAL RULES RELATING TO TRANSFER OF EXPLORATION EXPENDITURE  

20  

20   MATTERS DEALT WITH IN THIS PART  
This Part sets out the rules relating to the transfer by a person of transferable exploration expenditure from a petroleum project or an exploration right to another petroleum project in relation to a financial year. In this Part, the project or right from which the expenditure is transferred is called the transferring entity , the project to which the expenditure is transferred is called the receiving project and the financial year is called the transfer year .

Note:

Special rules apply in relation to the transfer of Greater Sunrise exploration expenditure: see Part 1A of this Schedule.