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Petroleum Resource Rent Tax Assessment Regulations 2024
36Exclusion of certain costs of relevant operation
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36 Exclusion of certain costs of relevant operation
For the purposes of step 2 of the residual pricing method, exclude a cost associated with the relevant operation if it is any of the following:
(a) exploration expenditure incurred by a person in relation to a petroleum project (see section 37 of the Act);
(b) a cost incurred in carrying out a feasibility or environmental study before the production of project sales gas;
(c) a cost incurred in removing infrastructure facilities used for a relevant GTL operation;
(d) an environmental restoration or site restoration cost;
(e) expenditure listed in paragraphs 44(1)(a) to (h) of the Act.