Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Act 2019 (Cth)

Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Act 2019

No. 43, 2019

An Act to amend the law relating to petroleum resource rent tax, and for related purposes

Contents 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 Petroleum Resource Rent Tax Assessment Act 1987 Part 2—Standard uplift expenditure Petroleum Resource Rent Tax Assessment Act 1987 Part 3—Other amendments Petroleum Resource Rent Tax Assessment Act 1987 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 Part 2—Amendments of other Acts Excise Tariff Act 1921 Income Tax Assessment Act 1997 Part 3—Application, transitional and savings provisions Division 1—Application of amendments to deductible expenditure and assessable receipts Division 2—General application of amendments

Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Act 2019 No. 43, 2019

An Act to amend the law relating to petroleum resource rent tax, and for related purposes

[Assented to 5 April 2019]

The Parliament of Australia enacts:

1 Short title This Act is the Treasury Laws Amendment (2019 Petroleum Resource Rent Tax Reforms No. 1) Act 2019.

2 Commencement (1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. The whole of this Act 1 July 2019. 1 July 2019