• Instructions for PRRT deductible expenditure schedule

    Read these instructions before completing the Petroleum resource rent tax (PRRT) deductible expenditure schedule (NAT 74264).

    Complete a separate schedule for the entity's interest in each petroleum project for which it is lodging its first PRRT return.

    Attention

    Lodging the PRRT starting base return and first PRRT return for the 2012–13 year

    If, for the 2012–13 year, the entity is lodging both a PRRT starting base return and its first PRRT return for its interest in the petroleum project, it does not need to complete a PRRT deductible expenditure schedule.

    Lodging the first PRRT return for the 2013–14 year or a later year after a PRRT starting base return has been lodged

    If the entity is lodging its first PRRT return and deductible expenditure schedule for its interest in the petroleum project for the 2013–14 year, or any later year, and a PRRT starting base return has been lodged for that interest, the entity only needs to provide details in the PRRT deductible expenditure schedule for the 2012–13 year and later years.

    End of attention

    All amounts on the PRRT deductible expenditure schedule need to be expressed in Australian dollars. Round down to whole-dollar amounts (do not include cents).

    Find out more

    refer to the Petroleum Resource Rent Tax Assessment Act 1987.

    End of find out more

    The year of tax for PRRT begins on 1 July and ends on 30 June the following year. Insert the relevant years to signify the start and the end of the year of tax.

    Last modified: 19 Feb 2014QC 26751