Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects–C014D) Certificate 2018

Overview

The Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects––C014D) Certificate 2018 was issued by Senator the Hon Matthew Canavan, the Minister for Resources and Northern Australia, on 16 August 2018. This certificate was enacted under section 20 of the Petroleum Resource Rent Tax Assessment Act 1987 and it addresses the combination of specified petroleum projects for the purpose of assessing the petroleum resource rent tax. The objective of this certificate, as indicated by its title and content, is to outline specific production licences that are subject to the combination provisions, thereby ensuring that the assessment process for the petroleum resource rent tax is appropriately managed. Additionally, the certificate provides for the review of decisions made under its authority by the Administrative Appeals Tribunal, as per the Administrative Appeals Tribunal Act 1975. This certificate also repeals the previous certificate, the Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects—C014C) Certificate 2018, as per section 20(6) of the Act.

Scope and Application

The Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects–C014D) Certificate 2018 applies to the specified production licences listed within its provisions, which pertain to petroleum projects in Queensland. The Act, which this certificate is made under, is the Petroleum Resource Rent Tax Assessment Act 1987. The certificate was signed by the Minister for Resources and Northern Australia and commenced on the day of signing in accordance with section 20(6) of the Act. The specified production licences include a range of licences from PL3 to PL1021, which are identified for the purposes of section 20 of the Act. This certificate also provides for review by the Administrative Appeals Tribunal under the Administrative Appeals Tribunal Act 1975, allowing any affected person to seek a review of the decision to issue or repeal this certificate. Additionally, by operation of section 20(6) of the Act, it repeals the previous Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects—C014C) Certificate 2018.

Key Provisions

The Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects––C014D) Certificate 2018 (the "Certificate") is a notifiable instrument made by the Minister for Resources and Northern Australia under section 20 of the Petroleum Resource Rent Tax Assessment Act 1987 (the "Act"). The Certificate specifies certain petroleum production licences in Queensland for the purposes of the Act and repeals the previous certificate, the Petroleum Resource Rent Tax Assessment (Combination of Petroleum Projects—C014C) Certificate 2018 (the "Previous Certificate"). The Certificate came into effect on the day it was signed by the Minister, in accordance with section 20(6) of the Act. The Certificate specifies a number of petroleum production licences in Queensland, which are listed in section 5 of the Certificate. These licences are specified for the purposes of section 20 of the Act, which deals with the combination of petroleum projects. The specified licences are PL3, PL6, PL7, PL8, PL9, PL10, PL11, PL13, PL90, PL91, PL92, PL93, PL99, PL100, PL176, PL232, PL233, PL234, PL235, PL236, PL281, PL282, PL309, PL310, PL314, PL315, PL420, PL421, PL440, PL450, PL451, PL457, PL1012, PL1021. The Certificate also contains definitions of key terms used in the Certificate, including the "Act" and the "Tribunal", which has the meaning given in the Administrative Appeals Tribunal Act 1975. The Certificate imposes certain obligations on the parties or entities it governs. Firstly, it specifies the petroleum production licences in Queensland that are subject to the Act. Secondly, it provides for review of decisions under the Act by the Tribunal, in accordance with the Administrative Appeals Tribunal Act 1975. This means that any person or entity whose interests are affected by a decision under the Act may apply to the Tribunal for review of that decision. The Certificate also contains provisions relating to offences, penalties, and consequences for breach. However, the Certificate itself does not specify any offences, penalties, or consequences for breach. Instead, these are set out in the Act itself. The Act contains provisions for both civil and criminal penalties for breach of its provisions. For example, section 31 of the Act provides for a civil penalty of up to $1.1 million for certain breaches of the Act, while section 33 provides for criminal penalties of up to 10 years imprisonment for certain offences under the Act. The maximum penalties for breach of the Act will depend on the specific provisions that are breached and the circumstances of the breach.