Taxation Laws Amendment Act (No. 6) 2001 (169 of 2001)

Schedule 1   Petroleum Resource Rent Tax

Part 1   Sales gas

Petroleum Resource Rent Tax Assessment Act 1987

1   Section 2 (definition of sales gas )

Repeal the definition, substitute:

sales gas means a substance:

(a) which is in a gaseous state when at the temperature of 15°C and a pressure of one atmosphere; and

(b) which consists of naturally occurring hydrocarbons, or a naturally occurring mixture of hydrocarbons and non-hydrocarbons; and

(c) the principal constituent of which is methane; and

(d) which:

(i) if it is to be used as a feedstock for conversion to another product - has been processed so that it is suitable for that use; or

(ii) in any other case - has been processed so that it is suitable for direct consumption as energy.