SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 6Allocation of activated TTH amount
41“Total activated TTH amount”
1
This paragraph applies if, in relation to a post-activation period—
a
the tracked profit or loss amount attributable to the TTH asset for that period, exceeds
b
the relevant proportion of the decommissioning expenditure amount attributable to the TTH oil field for that period.
2
The “TTH reduction amount” for the post-activation period is an amount equal to the excess.
3
If the TTH reduction amount is less than the closing balance amount, the adjusted activated TTH amount for the purposes of paragraph 39 is an amount equal to the difference.
4
If the TTH reduction amount is equal to, or greater than, the closing balance amount, the adjusted activated TTH amount for the purposes of paragraph 39 is nil.
5
In this paragraph, references to the “closing balance amount” are references to the closing balance of activated TTH for the accounting period immediately preceding the post-activation period.