Operating costs – royalty year that includes 1 July 2013
58 Operating costs – royalty year that includes 1 July 2013
(1) This section applies for the purpose of determining the operating costs for a production unit for a royalty year that started before 1 July 2013 and ends on or after 1 July 2013.
The operating costs for the royalty year are:
(a) the operating costs of the production unit for the part of the royalty year ending immediately before 1 July 2013 (the pre‑July period) determined in accordance with this Act as in force immediately before 1 July 2013; and
(b) the operating costs of the production unit for the part of the royalty year beginning on 1 July 2013 (the post‑June period) determined in accordance with this Act as amended by the Revenue Legislation Amendment Act 2013.
(3) If an expenditure relates in part to the pre-July period and in part to the post-June period, the amount of the expenditure must be apportioned between the periods:
(a) as agreed between the royalty payer and the Secretary on or before 31 December 2013; or
(b) in the absence of an agreement – as determined by the Secretary.
(4) To avoid doubt, an apportionment under subsection (3) may apportion the whole of an amount to one period and none of the amount to the other period.
Part X Transitional matters for Revenue Legislation Amendment Act 2018
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