Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 5   Petroleum exploration incentives

Petroleum Resource Rent Tax Assessment Act 1987

10   Subclause 15(1) of the Schedule

Omit "all of the exploration expenditure is non-transferable expenditure", substitute "the total of the amounts of exploration expenditure (other than designated frontier expenditure), and uplifted frontier expenditure, is taken to be non-transferable expenditure".