Is my reading correct.  The change of law will not allow you to...

Is my reading correct.  The change of law will not allow you to apply loss making exploration losses against profits from profitable exploration.  Is that really true.  If you lose on a project you just wear the loss.  If you profit on a project you pay profit on that, without regard to any offsetting losses.

If true, that is really strange.  Does the govt make Woolies produce profit / loss on different sections of their store.  Or more correctly, with Wesfarmers, are they no longer allowed to apply losses from one brand to their overall accounts.

I do have a bit of a mantra that when the govt 'gets involved' it turns out bad for everyone.  I am sure there is some fair method to give monies back to Australia for the extraction of its resources.  But I only read 'govt sees way to get $6 bill'.