Petroleum Resource Rent Tax Assessment Regulations 2024
For the purposes of working out assessable petroleum receipts relating to sales gas under section 22 or 24 , the upstream stage of a relevant operation is a series of phases ending when all of the following actions have been completed: (a) the recovery of project natural gas; (b) any multiple use of units of property that are used in the recovery of project natural gas; (c) the storage of recovered project natural gas before being used in the production of sales gas; (d) any multiple use of the units of property that are used to store recovered project natural gas; (e) the production of project sales gas; (f) any multiple use of units of property that are used in the production of project sales gas; (g) the transportation of project product for the recovery mentioned in paragraph (a) or the production mentioned in paragraph (e) ; (h) any multiple use of units of property for transportation mentioned in paragraph (g) ; (i) the storage of project sales gas at or adjacent to the place at which it is produced, if the storage occurs:
(i) before the sale referred to in paragraph 24(1)(d) of the Act; or
(as the case requires); (j) any multiple use of units of property that are used for the storage of project sales gas mentioned in paragraph (i) .
(ii) before the gas becomes or became an excluded commodity as described in paragraph 24(1)(e) of the Act;
8(2)
For the purposes of working out assessable petroleum receipts relating to sales gas under section 22 or 24 , the downstream stage of a relevant GTL operation is a series of phases beginning when the upstream stage ends and ending when all of the following actions have been completed: (a) the storage of project sales gas at or adjacent to the place at which it is produced, if the storage occurs:
(i) after the sale referred to in paragraph 24(1)(d) of the Act; or
(as the case requires); (b) the transportation (if any) of project sales gas from the upstream stage for processing into project liquid; (c) the processing of the project sales gas into project liquid; (d) any multiple use of units of property that are used in the processing of the project sales gas into project liquid; (e) the transportation of project product for the processing of project sales gas mentioned in paragraph (c) ; (f) any activity associated with an action mentioned in paragraphs (b) to (e) for the purpose of using project sales gas to produce project liquid; (g) any multiple use of units of property for the transportation mentioned in paragraph (e) ; (h) the sale of project liquid without further processing; (i) the storage of project liquid at or adjacent to the place at which it is produced by the processing mentioned in paragraph (c) ; (j) the loading of project liquid at a loading facility:
(ii) after the gas becomes or became an excluded commodity as described in paragraph 24(1)(e) of the Act;
(i) adjacent to the place at which it is produced by the processing mentioned in paragraph (c) ; or
(k) the transportation of project liquid between any or all of:
(ii) adjacent to the place at which it is stored as mentioned in paragraph (i);
(i) the place at which it is produced by the processing mentioned in paragraph (c) ; and
(ii) the place at which it is stored as mentioned in paragraph (i) ; and
(l) any multiple use of units of property for the storage, loading or transportation mentioned in paragraphs (i) , (j) and (k) .
(iii) the place at which it is loaded as mentioned in paragraph (j) ;
8(3)
For the purposes of working out assessable petroleum receipts relating to sales gas under section 22 or 24 , the downstream stage of a relevant GTE operation is a series of phases beginning when the upstream stage ends and ending when all of the following actions have been completed: (a) the storage of project sales gas at or adjacent to the place at which it is produced, if the storage occurs:
(i) after the sale referred to in paragraph 24(1)(d) of the Act; or
(as the case requires); (b) the transportation (if any) of the project sales gas from the upstream stage for combustion to produce project electricity; (c) the combustion of the project sales gas to produce project electricity; (d) any multiple use of units of property that are used in the combustion of the project sales gas to produce project electricity; (e) any activity associated with an action mentioned in paragraphs (b) to (d) for the purposes of using project sales gas to produce project electricity; (f) the sale of project electricity.
(ii) after the gas becomes or became an excluded commodity as described in paragraph 24(1)(e) of the Act;
Note 1:
Phases are explained in subsections 9(1) and (3) .
Note 2:
In general terms, a phase is a part of an operation during which the ratio of project product to total product flowing through the operation remains the same (and is expected to remain the same). The upstream and downstream stages of a relevant operation may include a number of phases, but each stage ends when the actions associated with the last phase have been completed.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.