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ATO action to reduce the gap

How we support our clients to meet their compliance obligations.

Published 1 November 2024

Our strategy to reduce the petroleum resource rent tax (PRRT) gap focuses on:

  • monitoring annual compliance and advance pricing arrangements with key taxpayers and project operators
  • identifying and addressing administrative and technical issues with industry, advisers, and government
  • providing early guidance to help taxpayers comply with the law
  • comparing the PRRT positions of joint venture participants engaged in the same project to obtain assurance of annual returns
  • obtaining assurance through reviews and audits.

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