Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon. Josh Frydenberg MP)Chapter 2 - Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Offshore Petroleum (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021
Treasury Laws Amendment (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021
1.43 The Bills are compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Overview
1.44 The Offshore Petroleum (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021 introduces a temporary levy on offshore petroleum production to recover the Commonwealth's costs of decommissioning the Laminaria and Corallina oil fields and associated infrastructure.
1.45 The Treasury Laws Amendment (Laminaria and Corallina Decommissioning Cost Recovery Levy) Bill 2021 amends the Income Tax Assessment Act 1997, Petroleum Resource Rent Tax Assessment Act 1987 and the Taxation Administration Act 1953 to specify certain administrative features relating to the levy, including the requirement that the levy is payable to the Commissioner of Taxation annually.
Human rights implications
1.46 The Bills do not engage any of the applicable rights or freedoms.
Conclusion
1.47 The Bills are compatible with human rights as it does not raise any human rights issues.