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  • Excluded expenditure

    Certain expenditure is specifically excluded from being deductible for PRRT. This is referred to as excluded expenditure, and includes the following:

    • interest and principal repayments on borrowings
    • interest components of hire-purchase payments
    • dividend payments
    • share issue costs
    • private override royalties (other than certain eligible native title payments)
    • equity capital repayments
    • payments to acquire (other than by grant) an interest in an exploration permit, retention lease, production licence, pipeline licence or access authority
    • payments to acquire interests in petroleum project profits, receipts or expenditures
    • income tax and goods and services tax payments
    • indirectly incurred administrative or accounting costs, salary, wages or other work costs
    • payments for land and buildings used for administrative or accounting purposes if the land or buildings are not located at, or adjacent to the project site.
      Last modified: 06 Dec 2022QC 26133