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02 Nov 11 Petroleum Resource Rent Tax Assessment Amendment Bills introduced

On 2 November 2011, the following Bills were introduced into the House of Representatives:

The Petroleum Resource Rent Tax Assessment Amendment Bill 2011 amends the Petroleum Resource Rent Tax Assessment Act 1987 to expand its coverage to onshore petroleum projects and the North West Shelf project. From 1 July 2012, the Petroleum Resource Rent Tax (PRRT) will be extended and apply to all oil and gas production in Australia. The PRRT will not apply to the Joint Petroleum Development Area in the Timor Sea.

For a copy of the Explanatory Memorandum to the Bills, go here

 


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