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EJ 17: Partnership interests and disposal of part of asset
or “Rules for partnerships and partial asset sales in petroleum and property”
You could also call this:

“Rules for petroleum miners working outside New Zealand”

If you are a petroleum miner and you do mining operations or decommissioning work outside New Zealand, some special rules apply to you. These rules are similar to the ones for mining operations inside New Zealand.

The rules apply when you do your mining work through a branch or a controlled foreign company outside New Zealand. They also apply if your work is very similar to the petroleum mining activities described in sections EJ 12 to EJ 17 and EJ 20.

In these cases, you need to follow sections EJ 12 to EJ 17 and EJ 20 with some changes to make them fit your situation. These sections talk about how to handle your income and expenses for tax purposes when you’re doing petroleum mining.

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Next up: EJ 19: Meaning of offshore development

or “Definition of offshore development removed from tax law”
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Part E Timing and quantifying rules
Spreading of specific expenditure

EJ 18Petroleum mining operations outside New Zealand

  1. Sections EJ 12 to EJ 17 and EJ 20 apply with any necessary modifications to a petroleum miner undertaking petroleum mining operations that are, or decommissioning that is,—

  2. outside New Zealand and undertaken through a branch or a controlled foreign company; and
    1. substantially the same as the petroleum mining activities governed by sections EJ 12 to EJ 17 and EJ 20.

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      Notes
      • Section EJ 18: amended, on , by section 74(1) (and see section 74(4) for application) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
      • Section EJ 18(b): amended, on , by section 74(2) (and see section 74(4) for application) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
      • Section EJ 18 list of defined terms decommissioning: inserted, on , by section 74(3) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).