Notice of issue of combination certificate under subsection 20(1) of the Petroleum Resource Rent Tax Assessment Act 1987

Overview

The Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects–C019A) Certificate 2019 was issued under section 20 of the Petroleum Resource Rent Tax Assessment Act 1987 by Matt Canavan, the Minister for Resources and Northern Australia, on 5 April 2019. This certificate serves to specify certain Western Australian petroleum production licences for the purposes of combination under the Act, addressing the need to manage and assess petroleum resource rent tax more effectively. The certificate is subject to review by the Administrative Appeals Tribunal under the Administrative Appeals Tribunal Act 1975, ensuring that any affected parties have the right to challenge the Minister’s decision. Additionally, this certificate nullifies any previously issued certificates related to the combination of petroleum projects.

Scope and Application

The Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects–C019A) Certificate 2019 applies to specific production licences within Western Australia, as detailed in the certificate. The Act pertains to the assessment of petroleum resource rent tax and provides authority for the Minister for Resources and Northern Australia to issue certificates that combine certain petroleum projects for tax assessment purposes. The geographic scope of this Act is limited to Western Australia, as indicated by the specified production licences within that jurisdiction. The certificate allows for the review of decisions by the Administrative Appeals Tribunal, subject to the provisions of the Administrative Appeals Tribunal Act 1975. Notably, this certificate supersedes any previously issued combination certificates for the specified projects, ensuring that the latest assessment methodology is applied.

Key Provisions

The main operative sections of this legislation include the specification of the certificate's name (section 1), its commencement (section 2), the authority under which it is issued (section 3), definitions pertinent to its interpretation (section 4), the identification of specified production licences (section 5), the provision for review by the Administrative Appeals Tribunal (section 6), and the cessation of a previous certificate's force (section 7). The certificate is titled the Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects–C019A) Certificate 2019, and it comes into effect the day it is signed by the Minister, as per section 2. It is issued under section 20 of the Petroleum Resource Rent Tax Assessment Act 1987, as indicated in section 3. The specified production licences relevant to this certificate are L 1, L 2, L 11, and L 22, as detailed in section 5. Moreover, section 6 allows for a review of the decision to issue this certificate by the Administrative Appeals Tribunal, subject to the Administrative Appeals Tribunal Act 1975, for those whose interests are affected. The Act imposes certain obligations and requirements on the parties it governs. It mandates the specification of particular production licences that fall under its purview, thus delineating the scope of its application. Additionally, it requires that any decision to issue such a certificate be subject to review by the Administrative Appeals Tribunal, ensuring that there is a mechanism in place for those who may be adversely affected by such decisions to seek recourse. The Act also provides for the cessation of a previously issued certificate upon the issuance of a new one, as outlined in section 7, to ensure that there is no overlap or conflict in the application of these certificates. In terms of offences, penalties, or consequences for breach, the legislation does not explicitly state penalties within its text. However, it does provide for the possibility of review by the Administrative Appeals Tribunal, which could lead to the overturning or modification of a decision if found to be unlawful or unjust. The potential outcomes of such a review could include the nullification of the certificate or the imposition of specific conditions or modifications to the terms under which the certificate was issued. While specific maximum penalties are not detailed in the text, the potential for review and the resultant decisions by the Tribunal can have significant legal and financial implications for the parties involved.