Section 30C
Amendment of return on expenditure during exploration period
of Petroleum (Income Tax) Act 1967
Where for an exploration period a chargeable person has furnished a return in accordance with subsection 30A(1), that person may make amendment to such return in an amended return as prescribed by the Director General in respect of the amount of exploration expenditure incurred by that chargeable person in relation to petroleum operations in the exploration period.
(2)
An amended return under subsection (1) shall only be made after the due date for the furnishing of the return pursuant to subsection 30A(1), but not later than six months from that date.
(3)
For the purposes of this section, the amended return shall—
(a)
specify the amount or additional amount of exploration expenditure incurred by that chargeable person in relation to petroleum operations in that period; or
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(b)
contain such particulars as may be required by the
Director General.
(4)
The amendment under subsection (1) shall only be made once.