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Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Act 2019 (43 of 2019)
- Front Matter
- 1 Short title
- 2 Commencement
- 3 Schedules
- Schedule 1 Reform of the petroleum resource rent tax
- Part 1 Uplifts for general expenditure for new projects
- Offshore Petroleum and Greenhouse Gas Storage Act 2006
- 1 Subsection 258(7) (note)
- Petroleum Resource Rent Tax Assessment Act 1987
- 2 Subsection 34A(4) (formula)
- 3 Subsection 34A(4) (definition of Augmented bond rate)
- 4 Subsection 34A(4)
- 5 Subsection 34A(5)
- Part 2 Standard uplift expenditure
- Petroleum Resource Rent Tax Assessment Act 1987
- 6 Paragraphs 32(c) and (e)
- 7 Section 34A (heading)
- 8 Subsection 34A(1)
- 9 Subsection 34A(2)
- 10 Subsection 34A(3)
- 11 Paragraph 34A(4)(c)
- 12 Subsection 34A(4)
- 13 Subsection 34A(4) (definition of Available excess)
- 14 Paragraph 35(3)(c)
- 15 Section 35A (heading)
- 16 Subsection 35A(1)
- 17 Subsection 35A(1) (note)
- 18 Subsection 35A(2)
- 19 Subsection 35A(2) (note)
- 20 Paragraphs 35C(5)(c) and (e)
- 21 Paragraphs 35E(3)(c) and (e)
- 22 Section 36A (note)
- 23 Subsection 36B(1) (note)
- 24 Subparagraph 48(1)(a)(i)
- 25 Subparagraph 48(1)(a)(ia) (note)
- 26 Paragraph 48A(5)(b)
- 27 Paragraph 48A(5)(c) (note)
- 28 Subparagraph 58K(1)(b)(iii)
- 29 Subsection 58K(2) (heading)
- 30 Paragraph 58K(2)(a)
- 31 Subparagraph 58M(1)(c)(iii)
- 32 Subsection 58M(2) (heading)
- 33 Paragraph 58M(2)(a)
- 34 Clause 1 of Schedule 1
- 35 Clause 1 of Schedule 1 (definition of GDP expenditure year)
- 36 Clause 1 of Schedule 1
- 37 Part 2 of Schedule 1 (heading)
- 38 Clause 5 of Schedule 1 (paragraph (a) of the definition of notional taxable profit)
- 39 Paragraph 6(1)(a) of Schedule 1
- 40 Paragraph 6(1)(b) of Schedule 1
- 41 Paragraph 7(a) of Schedule 1
- 42 Paragraph 7(b) of Schedule 1
- 43 Subclause 8(3) of Schedule 1
- 44 Paragraphs 8(3)(a) and (b) of Schedule 1
- 45 Paragraphs 8(3)(c) and (d) of Schedule 1
- 46 Subclause 8(4) of Schedule 1
- 47 Paragraphs 8(4)(a) and (b) of Schedule 1
- 48 Paragraphs 8(4)(b) and (c) of Schedule 1
- 49 Subclause 8(5) of Schedule 1
- 50 Paragraphs 8(5)(a) and (b) of Schedule 1
- 51 Paragraph 8(5)(c) of Schedule 1
- 52 Paragraph 8(6)(a) of Schedule 1
- 53 Paragraph 8(6)(b) of Schedule 1
- 54 Subclause 8(6) of Schedule 1
- 55 Subclause 8(6) of Schedule 1
- 56 Paragraph 8(7)(a) of Schedule 1
- 57 Paragraph 8(7)(b) of Schedule 1
- 58 Subparagraph 8(7)(c)(i) of Schedule 1
- 59 Subparagraph 8(7)(c)(ii) of Schedule 1
- 60 Subparagraph 8(7)(c)(ii) of Schedule 1
- 61 Paragraph 8(7)(d) of Schedule 1
- 62 Subparagraph 8(7)(d)(i) of Schedule 1
- 63 Subparagraph 8(7)(d)(ii) of Schedule 1
- 64 Subparagraph 8(7)(d)(ii) of Schedule 1
- 65 Clause 24 of Schedule 1 (heading)
- 66 Paragraph 24(a) of Schedule 1
- 67 Paragraph 24(c) of Schedule 1
- 68 Subparagraph 25(c)(i) of Schedule 1
- 69 Clause 33 of Schedule 1
- 70 Paragraph 33(a) of Schedule 1
- 71 Paragraph 33(c) of Schedule 1
- 72 Subparagraph 34(c)(i) of Schedule 1
- 73 Clause 37 of Schedule 1
- 74 Clause 38 of Schedule 1 (heading)
- 75 Clause 38 of Schedule 1
- 76 Paragraph 38(a) of Schedule 1
- 77 Paragraph 38(a) of Schedule 1 (subparagraph (i) of the definition of Transferred amount)
- Part 3 Other amendments
- Petroleum Resource Rent Tax Assessment Act 1987
- 78 Subsection 20(1)
- 79 Subsection 20(2)
- 80 Subsection 20(4)
- 81 Paragraph 20(9)(b)
- 82 Subsection 20(10)
- 83 Paragraph 20(12)(b)
- Schedule 2 Removing onshore projects from the petroleum resource rent tax
- Part 1 Amendment of the Petroleum Resource Rent Tax Assessment Act 1987
- Petroleum Resource Rent Tax Assessment Act 1987
- 1 Section 2 (definition of access authority)
- 2 Section 2 (definition of acquisition)
- 3 Section 2 (paragraph (c) of the definition of applicable commencement date)
- 4 Section 2 (note to the definition of assessment)
- 5 Section 2 (definition of block)
- 6 Section 2
- 7 Section 2 (definition of eligible real expenditure)
- 8 Section 2 (definition of excluded fee)
- 9 Section 2 (definition of exploration permit)
- 10 Section 2 (definition of exploration permit area)
- 11 Section 2 (definition of head company)
- 12 Section 2 (definition of holder of a registered interest)
- 13 Section 2 (definition of infrastructure licence)
- 14 Section 2
- 15 Section 2 (definition of pipeline licence)
- 16 Section 2 (definition of post-30 June 2008 petroleum project)
- 17 Section 2 (paragraph (b) of the definition of production licence)
- 18 Section 2 (paragraph (c) of the definition of production licence)
- 19 Section 2 (note to the definition of production licence)
- 20 Section 2 (definition of production licence area)
- 21 Section 2 (definition of production licence notice)
- 22 Section 2 (definition of provisional head company)
- 23 Section 2 (definition of registered holder)
- 24 Section 2 (definition of retention lease)
- 25 Section 2 (definition of retention lease area)
- 26 Section 2 (definition of starting base amount)
- 27 Section 2
- 28 Sections 2AA, 2AB and 2AC
- 29 Paragraph 20(1)(c)
- 30 Paragraph 20(1)(d)
- 31 Subsection 20(1A)
- 32 Paragraph 24(1)(a)
- 33 Paragraph 24(1)(e)
- 34 Paragraph 24(1)(f)
- 35 Subsection 24(2) (definition of non-arm's length transaction)
- 36 Subsection 29A(1) (example)
- 37 Subsection 31(1)
- 38 Subsection 31(1)(h)
- 39 Subsection 31(2)
- 40 Section 31AA
- 41 Paragraph 32(fb)
- 42 Subsection 34A(5) (definition of class 2 general project expenditure)
- 43 Subparagraph 35C(3)(c)(i)
- 44 Section 35D
- 45 Paragraph 35E(1)(a)
- 46 Subsection 35E(1) (note)
- 47 Paragraph 35E(3)(h)
- 48 Subsection 35E(4)
- 49 Subsections 37(2A), (2B) and (2C)
- 50 Subsection 44(2) (note)
- 51 Subsection 45(1)
- 52 Subsection 45(2)
- 53 Subsection 45(4)
- 54 Subsections 45(5) and (6)
- 55 Subsection 45(7)
- 56 Subsection 45(8) (heading)
- 57 Subsection 45(8)
- 58 Subparagraph 48(1)(a)(ib)
- 59 Paragraph 48(3)(c)
- 60 Paragraph 48A(5)(ca)
- 61 Paragraph 48A(11)(c)
- 62 Subparagraph 58K(1)(b)(v)
- 63 Subparagraph 58K(1)(b)(vii)
- 64 Subparagraph 58M(1)(c)(v)
- 65 Subparagraph 58M(1)(c)(vii)
- 66 Division 8 of Part V
- 67 Section 61 (note)
- 68 Subsection 67(2) (note)
- 69 Subsection 93(1)
- 70 Paragraph 97(1A)(b)
- 71 Subsection 97(1AA)
- 72 Subsection 109(5)
- 73 Clause 4C of Schedule 1 (heading)
- 74 Clause 4C of Schedule 1
- 75 Clause 5 of Schedule 1 (paragraph (a) of the definition of notional taxable profit)
- 76 Clause 9 of Schedule 1 (paragraph (a) of the definition of notional taxable profit)
- 77 Schedule 2
- Part 2 Amendments of other Acts
- Excise Tariff Act 1921
- 78 Subsection 3(1) (definition of Resource Rent Tax area)
- Income Tax Assessment Act 1997
- 79 Subsection 703-50(1) (note 1)
- 80 Subsection 703-50(1) (note 3)
- 81 Subsection 719-50(1) (note 1)
- 82 Subsection 719-50(1) (note 3)
- 83 Subsection 721-10(2) (table items 95, 100, 105 and 110)
- 84 Subsections 721-10(5) and (6)
- Part 3 Application, transitional and savings provisions
- Division 1 Application of amendments to deductible expenditure and assessable receipts
- 85 Application - deductible expenditure and assessable receipts
- Division 2 General application of amendments
- 86 Object
- 87 Making and amending assessments, and doing other things, in relation to past matters
- 88 Saving of provisions about effect of assessments
- 89 Repeals disregarded for the purposes of dependent provisions
- 90 Division does not limit operation of section 7 of the Acts Interpretation Act 1901
- 91 Annual returns for the financial year starting 1 July 2018
- 92 Tax-related liabilities incurred in relation to periods ending before 1 July 2019
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