Document ID: chunk:federal_register_of_legislation:C2024C00818:clause:1_27
Version: federal_register_of_legislation:C2024C00818
Segment Type: clause
Provision Reference: sch 1 cl 27
Character Range: 305303–306001

27  Interpretation
  In this Part:
notional taxable profit, in relation to a company, 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 company, the project and the financial year if:
 (a) all deductible expenditure in relation to the company, the project and the financial year were taken into account; and
 (b) all expenditure to be transferred by the company to the project in relation to the financial year under section 45A had been transferred; and
 (c) any expenditure transferred to the company in relation to the project and the financial year under section 45B had not been transferred.