House of Representatives

Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)

FINANCIAL IMPACT

Some petroleum resource rent tax revenue may be received in the 1988-89 financial year. However, the amount of revenue in any year is inestimable due to the continuing fluctuations in world oil prices and the uncertainty inherent in offshore petroleum exploration.