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DT 11: Association ending
or “Rules for petroleum miners when ending an association with a connected buyer of their assets”
You could also call this:

“Tax deductions for repairing damaged petroleum mining assets”

You can get money taken off your taxes if you fix a damaged asset that’s used for petroleum mining. This applies to assets like those mentioned in section CT 7(1)(b) or (c) of the law.

This rule adds to the general permission for tax deductions and overrides the rule about capital expenses. However, other general rules about tax deductions still apply.

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Next up: DT 13: Disposal of ownership interests in controlled petroleum mining entities

or “Tax implications when selling shares in oil and gas companies”
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Part D Deductions
Petroleum mining expenditure

DT 12Damage to assets

  1. A petroleum miner is allowed a deduction for the cost of repairing a damaged asset of the kind described in section CT 7(1)(b) or (c) (Meaning of petroleum mining asset).

  2. This section supplements the general permission and overrides the capital limitation. The other general limitations still apply.

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