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Petroleum Resource Rent Tax Assessment Regulation 2015
No longer in force
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Administered by
Department of the Treasury
This item is authorised by the following title:
Petroleum Resource Rent Tax Assessment Act 1987
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F2021C00046 C01
15 December 2020
-
06 August 2024
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Part 1—Preliminary
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Division 1—Preliminary
1 Name
3 Authority
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Division 2—Definitions
5 Definitions
6 When an integrated GTL operation exists
7 When an integrated GTE operation exists
8 Upstream and downstream stages of integrated operation
9 Phase points of integrated operation
10 When there is multiple use of a phase
11 Participants in an integrated operation
12 Non-arm’s length transaction
13 Estimated average annual volume or mass of project natural gas
14 Meaning of volume coefficient
15 Meaning of mass coefficient
16 Augmentation of a capital cost
17 Reduction of a capital cost
18 Capital allowance
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Part 2—Assessable petroleum receipts
19 Assessable petroleum receipts—sales gas of integrated operation with non-arm’s length sale
20 Assessable petroleum receipts—sales gas of integrated operation becoming excluded commodity other than by being sold
22 Advance pricing arrangements
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Part 3—The substitute prices
23 The comparable uncontrolled price
24 RPM price (transfer price using the residual pricing method)
25 RPM price where information is not available
26 Cost-plus price
27 Netback price
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Part 4—The residual pricing method
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Division 1—The residual pricing method
28 Costs are net of GST tax credits and adjustments
29 When the residual pricing method can be applied
30 The residual pricing method for working out cost-plus price and netback price
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Division 2—Identifying and classifying included costs
31 Types of cost associated with integrated operation
32 Exclusion of certain costs of integrated operation
33 Direct, indirect and personal costs
34 Exclusion of personal costs of other participants
35 Included costs
36 Capital costs and operating costs
37 Amount and timing of included capital cost
38 Phase costs and upstream and downstream costs
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Division 3—Allocating capital costs to years of tax
39 Capital costs incurred for a unit of property completed over several years
40 Capital costs incurred before the production year—project sales gas produced first
41 Capital costs incurred before the production year—other marketable petroleum commodities produced first
42 Allocating capital costs to a year of tax
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Division 4—Accounting for multiple use of a phase
43 Applying the energy coefficients to costs of each phase
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Part 5—Notional tax amount—sales gas
44 Notional tax amount when RPM price not used
45 Notional tax amount when RPM price used
46 Notional tax amount when no previous RPM price
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Part 6—Miscellaneous
47 Review of decisions—prescribed decisions
50 Election to apply a modified residual pricing method—integrated GTL operations existing before 2 May 2010
52 Election to use individual participant-based end product values
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Part 7—Transitional matters
53 Things done under the Petroleum Resource Rent Tax Assessment Regulations 2005
54 Application of amendments made by the Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2020
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Endnotes
Endnote 1—About the endnotes
Endnote 3—Legislation history
Endnote 4—Amendment history