Petroleum Resource Rent Tax Assessment Act 1987

S 31(1) amended by No 43 of 2019, s 3 and Sch 2 items 37 and 38, by omitting " (1) " before " For the purposes " and " an onshore petroleum project or " after " in the case of " in para (h), effective 1 July 2019. For application, transitional and savings provisions, see note under s 31AA .

S 31(1) amended by No 18 of 2012, s 3 and Sch 6 item 10, by inserting para (aa), effective 1 July 2012.

S 31(1) renumbered from s 31 by No 18 of 2012, s 3 and Sch 4 item 6, effective 1 July 2012.

S 31 amended by No 18 of 2012, s 3 and Sch 2 items 7 to 10, by inserting " or " at the end of paras (b) and (c), inserting paras (ea) and (h), and substituting " unless paragraph (g) or (h) applies " for " except in the case of the Bass Strait Project " in para (f), effective 1 July 2012. No 18 of 2012, s 3 and Sch 2 item 13 contains the following transitional provision:

Transitional  
13(1)
For the purposes of applying section 31 of the Petroleum Resource Rent Tax Assessment Act 1987 to an onshore petroleum project or the North West Shelf project, treat any receipts:

(a) of a kind referred to in that section; and

(b) derived before 1 July 2012 in relation to activities undertaken in relation to the project on or after that day;

as having been derived in the financial year in which the activities are undertaken.

…

S 31(2) repealed by No 43 of 2019, s 3 and Sch 2 item 39, effective 1 July 2019. For application, transitional and savings provisions, see note under s 31AA . S31(2) formerly read:

31(2)
Despite paragraph (1)(h), an assessable receipt that is an assessable receipt because of clause 21 of Schedule 2 may be derived at any time, including a time before the project commences or after the project ceases.

S 31(2) inserted by No 18 of 2012, s 3 and Sch 4 item 7, effective 1 July 2012.