Document ID: chunk:federal_register_of_legislation:C2012A00018:clause:2_22
Version: federal_register_of_legislation:C2012A00018
Segment Type: clause
Provision Reference: sch 2 cl 22
Character Range: 87349–88368

22  Starting base returns
 (1) A person must give to the Commissioner a starting base return if the person wishes to choose a valuation approach under clause 3 in relation to a petroleum project.
 (2) A starting base return is not valid unless:
 (a) it is in the approved form; and
 (b) it is signed by or on behalf of the person giving the return; and
 (c) it is given to the Commissioner on or before 30 August 2013, or within a further time that the Commissioner allows.
 (3) Without limiting the information that the approved form may require, the starting base return must provide the following information:
 (a) the valuation approach chosen under clause 3 in relation to the petroleum project;
 (b) if the book value approach or market value approach was chosen—the amount of the starting base amount relating to the person's interest in the project;
 (c) if the look‑back approach was chosen—the amount of eligible real expenditure incurred before 1 July 2012 relating to the person's interest in the project.