Section A of the PRRT form requires details about the entity and whether the return is the first or final return for the entity.
Questions 1–8 – Details about the entity
Provide the following information:
- the entity’s Australian business number (ABN) at question 1
- the entity’s legal name at question 3
- the entity's tax file number (TFN) at question 2 (while this is optional, it allows us to correctly identify the entity lodging the return)
- the entity's previous legal name at question 4 only if the entity's legal name has changed since lodging the previous PRRT return with the ATO.
At question 5, provide the PRRT registration number for the project. If the project does not yet have a registration number, either:
- complete and attach an Application to register for petroleum resource rent tax (PRRT) (NAT 9847) to this PRRT return
- provide the project details at question 14.
At question 6, indicate whether the entity's address details have changed since it last notified us by placing an X in the appropriate box. Then:
- If there have been no changes, go to question 10.
- If the address details have changed, complete questions 7 and 8 as applicable.
At question 7, insert the entity’s main business location or address only if the details have changed since last notifying us. The address you provide must be a street address.
At question 8, insert the entity's postal address only if the details have changed since last notifying us. If the postal address is the same as the entity's main business location or address, place an X in the box at question 8.
Question 9 – deleted
Question 9 is no longer required and has been deleted from the form.
Question 10 – Is this the entity's first PRRT return for this project?
If the entity has previously lodged a PRRT return for its interest in this petroleum project, place an X in the 'No' box at question 10.
If this is the entity’s first PRRT return for its interest in this petroleum project place an X in the ‘Yes’ box at question 10. You will also need to complete and lodge a Petroleum resource rent tax (PRRT) deductible expenditure schedule (NAT 74264).
Questions 10A–10C – Deductions cap
Question 10A
If the entity is subject to tax under the deductions cap in this year of tax, place an X in the ‘Yes’ box at question 10A.
If the entity is not subject to tax under the deductions cap in this year of tax, place an X in the ‘No’ box at question 10A.
Note: the answer to this question will directly impact the answers in question 23.
Question 10B
If this is the entity’s first return where it is subject to tax under the deductions cap, place an X in the ‘Yes’ box at question 10B.
If this is not the entity’s first return where it is subject to tax under the deductions cap, place an X in the ‘No’ box at question 10B.
Question 10C
If the entity is taken to have incurred augmented denied deductible expenditure from the transfer of an interest in a petroleum title, place an X in the ‘Yes’ box at question 10C.
If the entity is not taken to have incurred any augmented denied deductible expenditure from the transfer of an interest in a petroleum title, place an X in the ‘No’ box at question 10C.
Question 11 – Is this the entity's final PRRT return for this project?
If the entity will lodge a PRRT return for this petroleum project in the future, place an X in the 'No' box for question 11 and go to section B.
If this is the last PRRT return the entity will lodge for this petroleum project, place an X in the ‘Yes’ box at question 11. You must also identify why this is the entity's last PRRT return for its interest in this petroleum project by placing an X in the box next to the most appropriate reason. If none of the listed reasons are appropriate, place an X in the 'Other' box and provide the reason in the field provided.
If the entity has purchased an interest in the project, attach a Petroleum resource rent tax (PRRT) notification of transfer of an interest in a petroleum title (NAT 15475) to this return giving full details of amounts that have been transferred.