Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Schedule(s)......................................................................................... 4

Schedule 1--Extension to onshore projects etc.                                                  5

Petroleum Resource Rent Tax Assessment Act 1987                                             5

Schedule 2--Assessable receipts                                                                                  16

Part 1--Amendments commencing on 1 July 2012                                     16

Petroleum Resource Rent Tax Assessment Act 1987                                           16

Part 2--Amendments commencing on Proclamation                                 19

Petroleum Resource Rent Tax Assessment Act 1987                                           19

Schedule 3--Deductible expenditure                                                                       20

Petroleum Resource Rent Tax Assessment Act 1987                                           20

Schedule 4--Starting base for onshore petroleum projects and the North West Shelf project 26

Part 1--Main amendments                                                                                       26

Petroleum Resource Rent Tax Assessment Act 1987                                           26

Part 2--Other amendments                                                                                      58

Petroleum Resource Rent Tax Assessment Act 1987                                           58

Schedule 5--Consolidated groups                                                                             65

Part 1--Main amendments                                                                                       65

Petroleum Resource Rent Tax Assessment Act 1987                                           65

Part 2--Other amendments                                                                                      71

Income Tax Assessment Act 1997                                                                            71

Petroleum Resource Rent Tax Assessment Act 1987                                           72

Schedule 6--Other amendments                                                                                 74

Part 1--Amendments related to clean energy package                             74

Petroleum Resource Rent Tax Assessment Act 1987                                           74

Part 2--Amendments related to repeal of an Act                                        75

Petroleum Resource Rent Tax Act 1987                                                                75

Part 3--Other amendments                                                                                      76

Crimes (Taxation Offences) Act 1980                                                                    76

Excise Tariff Act 1921                                                                                              76

Income Tax Assessment Act 1997                                                                            77

Petroleum Resource Rent Tax Assessment Act 1987                                           77

 

 

 

Petroleum Resource Rent Tax Assessment Amendment Act 2012

No. 18, 2012

 

An Act to amend the Petroleum Resource Rent Tax Assessment Act 1987, and for other purposes

[Assented to 29 March 2012]

The Parliament of Australia enacts: