Document ID: chunk:federal_register_of_legislation:C2024C00818:clause:1_9
Version: federal_register_of_legislation:C2024C00818
Segment Type: clause
Provision Reference: sch 1 cl 9
Character Range: 281604–282358

9  Interpretation
  In this Part:
notional taxable profit, in relation to a person, a petroleum project and a financial year, means the amount (if any) that would be the taxable profit under subsection 22(1) or (2) in relation to the person, the project and the financial year if:
 (a) the person had not incurred any class 2 GDP factor expenditure, resource tax expenditure, starting base expenditure, augmented denied deductible expenditure or closing‑down expenditure in relation to the project and the financial year; and
 (b) any expenditure transferred:
 (i) to the project in relation to the financial year under section 45A; or
 (ii) to the person in relation to the project and the financial year under section 45B;
  had not been transferred.