Petroleum Resource Rent Tax reforms are expected to increase tax receipts by A$2.4 billion over the forward estimates from 2023-24, Australian Treasurer Jim Chalmers says in a statement.
- The new PRRT Regulations, registered on Tuesday, respond to recommendations from the Treasury Gas Transfer Pricing Review
- Modernizing the rules to cover the new business model of tolling and increasing the integrity of the rules
- Government will continue to monitor the operational aspects of the PRRT and address any integrity issues that emerge
- NOTE: in March,
Australia Starts Consultation on Next Set of PRRT Regulations
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