32Deductible expenditure

32 Deductible expenditure

For the purposes of this Act, a reference to the deductible expenditure incurred by a person in a financial year in relation to a petroleum project (not being an ineligible project in relation to the financial year) is a reference to the total expenditure of the following kinds incurred by the person in the financial year in relation to the project: (a) class 1 augmented bond rate general expenditure; (b) class 1 augmented bond rate exploration expenditure; (c) class 2 uplifted general expenditure; (d) class 1 GDP factor expenditure; (e) class 2 uplifted exploration expenditure; (f) class 2 GDP factor expenditure; (fa) resource tax expenditure; (fc) starting base expenditure; (fd) augmented denied deductible expenditure; (g) closing‑down expenditure.