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Edited version of your written advice
Authorisation Number: 1012941859672
Date of advice: 3 February 2016
Ruling
Subject: Effect of change in lease areas on deductible expenditure
Question 1
Does the change in the lease areas alter the quantum of deductible expenditure as defined by section 32 of the Petroleum Resource Rent Tax Assessment Act 1987, available to be deducted for Company A prior to the change, in respect of any project or combined project arising from conversion of the lease areas to a production licence?
Answer
No
This ruling applies for the following periods:
Period ending 30 June 20xx
Period ending 30 June 20xx
Period ending 30 June 20xx
The scheme commences in:
Period ending 30 June 20xx
Relevant facts and circumstances
The Commissioner has ruled on the question.
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