Have your say on amendments to the Petroleum Resource Rent Tax Assessment Act 1987.
The draft Bill amends several sections of the Act. This allows the Commissioner of Taxation to treat a new project as a continuation of an earlier project, where reasonable.
Give feedback on priority issues for the measure, including:
how the Australian Taxation Office administers it
whether the public needs advice and guidance to understand it
what form this advice and guidance takes.
Context
The government announced the measure ‘Petroleum Resource Rent Tax – Government Response to the Review of the Petroleum Resource Rent Tax (PRRT) Gas Transfer Pricing arrangements’. Read the announcement in the 2023–24 Budget (Budget Paper No. 2, Part 1: Receipt Measures, p23).
This committed to applying several recommendations from the Petroleum Resource Rent Tax review. We will consult on the other recommendations in the future.
