• Instructions for PRRT starting base return

    Read these instructions before completing the Petroleum resource rent tax (PRRT) starting base return (NAT 74262).

    Complete a separate PRRT starting base return for the entity's interest in each onshore exploration permit, retention lease, or petroleum project (including an interest in the North West Shelf project) that it held on 30 June 2013.

    Attention

    Consolidation does not alter the fact that PRRT is calculated separately for each petroleum project.

    For example, if members of a wholly-owned group hold a number of interests in three separate onshore petroleum projects, upon consolidating for PRRT, the head company is taken to hold a single interest in each of the three projects. The head company is responsible for the PRRT obligations for each project. This means that the head company lodges three PRRT starting base returns – one for each project.

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    Once a PRRT starting base return has been lodged covering an interest, another PRRT starting base return should not be lodged covering that interest in any future years.

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

    Find out more

    • refer to PRRT starting base
    • visit our website ato.gov.au/prrt
    • phone us on 13 28 66 between 8.00am and 6.00pm, Monday to Friday
    • refer to the Petroleum Resource Rent Tax Assessment Act 1987.
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    PRRT starting base return information

    If this is an amendment to a previously lodged PRRT starting base return, indicate the amendment number in the box provided (1 for first amendment, 2 for second amendment, and so on). Fill out the form in full. Do not only insert the information affected by the amendment.

    Find out more

    Correcting PRRT starting base return mistakes

    End of find out more
    Last modified: 12 May 2014QC 26721