Commonwealth Numbered Acts

PETROLEUM RESOURCE RENT TAX ASSESSMENT ACT 1987

TABLE OF PROVISIONS

           Long Title

   1.      Short title  
   2.      Defined terms  
   3.      Petroleum pools  
   4.      Relationship between licences, permits and leases, &c.  
   5.      Petroleum exploration and recovery in relation to certain areas  
   6.      Termination of use of property in relation to a petroleum project  
   7.      Property installed ready for use  
   8.      Consideration not in cash  
   9.      Amounts credited, reinvested, etc., to be taken to be receivable  
   10.     Amounts to be expressed in Australian currency  
   11.     Residence  
   12.     Partnerships  
   13.     Unincorporated associations  
   14.     Application of Act  
   15.     General administration of Act  
   16.     Annual report  
   17.     Secrecy  
   18.     Application of Part in relation to section 20  
   19.     Petroleum project  
   20.     Combining of petroleum projects  
   21.     Liability to pay tax  
   22.     Taxable profit  
   23.     Assessable receipts  
   24.     Assessable petroleum receipts  
   25.     Assessable exploration recovery receipts  
   26.     Amounts notionally derived where no sale of petroleum etc.  
   27.     Assessable property receipts  
   28.     Assessable miscellaneous compensation receipts  
   29.     Assessable employee amenities receipts  
   30.     Reduction of amount of assessable property, &c., receipts  
   31.     Time of derivation of receipts  
   32.     Deductible expenditure  
   33.     Augmented bond rate general expenditure  
   34.     Augmented bond rate exploration expenditure  
   35.     GDP factor expenditure  
   36.     Augmented bond rate exploration and GDP factor expenditures in relation to project groups  
   37.     Exploration expenditure  
   38.     General project expenditure  
   39.     Closing-down expenditure  
   40.     Bad debts  
   41.     Effect of procuring the carrying on of operations, &c., by others  
   42.     Expenditure on property for partial project use  
   43.     Deferred use of property on project, &c.  
   44.     Excluded expenditure  
   45.     Time of incurring of expenditure  
   46.     Credits in respect of closing-down expenditure  
   47.     Application of credits  
   48.     Transfer of entire entitlement to assessable receipts  
   49.     Transfer before 1 July 1984 of partial entitlement to assessable receipts  
   50.     Arrangements  
   51.     Tax benefits  
   52.     Arrangements to which Subdivision applies  
   53.     Cancellation of tax benefits, &c.  
   54.     Amendment of assessments  
   55.     Operation of Subdivision  
   56.     Arm's length transaction  
   57.     Non-arm's length receipts  
   58.     Non-arm's length expenditure  
   59.     Annual returns  
   60.     Other returns  
   61.     Certificate of sources of information  
   62.     Assessments  
   63.     Default assessments  
   64.     Amendment of assessments  
   65.     Payment of interest where assessment amended  
   66.     Refund of amounts overpaid  
   67.     Amended assessment to be an assessment  
   68.     Notice of assessment  
   69.     Validity of assessment  
   70.     Interpretation  
   71.     Objections  
   72.     Request for reference  
   73.     Applications for extension of time  
   74.     Consideration of applications for extension of time for lodging objections  
   75.     Consideration of applications for extension of time for lodging requests for reference  
   76.     Reference to Tribunal or Court  
   77.     Notice to refer  
   78.     Procedure on review or appeal  
   79.     Powers of Federal Court on appeal  
   80.     Implementation of decisions  
   81.     Pending review or appeal not to affect assessment  
   82.     When tax payable  
   83.     Persons leaving Australia  
   84.     Extension of time and payment by instalments  
   85.     Penalty for unpaid tax  
   86.     Recovery of tax  
   87.     Substituted service  
   88.     Liquidators, &c.  
   89.     Recovery of tax from trustee of deceased person  
   90.     Where no administration of deceased person's estate  
   91.     Commissioner may collect tax from person owing money to person liable to tax  
   92.     Person in receipt or control of money of non-resident  
   93.     Interpretation  
   94.     Liability to pay instalments of tax  
   95.     When instalment of tax is payable  
   96.     Amount of instalment of tax  
   97.     Notional tax amount  
   98.     Instalment statement  
   99.     Application of payments of instalments of tax  
   100.    Unpaid instalments  
   101.    Penalty for failure to furnish return  
   102.    Penalty for false or misleading statements  
   103.    Penalty tax where arrangement to avoid tax  
   104.    Assessment of additional tax  
   105.    Judicial notice of signature  
   106.    Evidence  
   107.    Access to premises, &c.  
   108.    Relevant authority to obtain information and evidence  
   109.    Agents and trustees  
   110.    Recovery of tax paid on behalf of another person  
   111.    Right of contribution  
   112.    Records to be kept and preserved  
   113.    Service on partnerships and associations  
   114.    Regulations