Document ID: chunk:federal_register_of_legislation:C2010C00679:section:1953:p10
Version: federal_register_of_legislation:C2010C00679
Segment Type: section
Provision Reference: s 1953 (pt 10/14)
Character Range: 161062–163700

expenditure amount in relation to the vendor, the project and the financial
year or a previous financial year; and
Note: this is expenditure on which class 2 augmented bond rate exploration
expenditure and class 2 GDP factor expenditure are based.";
  (d) by adding at the end the following subsection:
  "(2) Expenditure that the purchaser, or a purchaser, is taken to have
incurred by subparagraph (1)(a)(ia) is taken to have been so incurred at the
time when the vendor incurred it, or is taken to have incurred it.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 115
Defined terms

  115. Clause 1 of the Schedule to the Principal Act is amended:
  (a) by omitting "exploration expenditure that the person is taken by section
48" from subparagraphs (a)(ii) and (b)(ii) of the definition of "incurred
exploration expenditure amount" and substituting "expenditure that the person
is taken by subparagraph 48(1)(a)(ia)";
  (b) by inserting the following definition:
  "'finishing day' means:
  (a) in relation to a petroleum project - the first day on which there is no
longer in force any production licence in relation to the project; or
  (b) in relation to an exploration permit or retention lease - the day on
which the permit or lease ceases to be in force;".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 116
Matters dealt with in this Part

  116. Clause 6 of the Schedule to the Principal Act is amended by adding at
the end the following subclause:
  "(2) For the avoidance of doubt, the assessable year may be a financial year
starting after the finishing day in relation to the petroleum project.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 117
Matters dealt with in this Part

  117. Clause 10 of the Schedule to the Principal Act is amended by adding at
the end the following subclause:
  "(2) For the avoidance of doubt, the assessable year may be a financial year
starting after the finishing day in relation to the petroleum project.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 118
Matters dealt with in this Part

  118. Clause 13 of the Schedule to the Principal Act is amended by inserting
after subclause (1) the following subclause:
  "(1A) For the avoidance of doubt, the assessable year may, subject to
subclause (2), be a financial year starting after the finishing day in
relation to the exploration permit or retention lease.".

TAXATION LAWS AMENDMENT ACT (No. 5) 1992 No. 224 of 1992
- SECT 119
Rule - person must have held interests in relation to transferring
entity and receiving project

  119. Clause 22 of the Schedule