House of Representatives
Petroleum Resource Rent Tax Assessment Amendment Bill 2011
Petroleum Resource Rent Tax (Imposition - Customs) Bill 2011
Petroleum Resource Rent Tax (Imposition - Excise) Bill 2011
Petroleum Resource Rent Tax (Imposition - General) Bill 2011
Explanatory Memorandum
(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)Glossary
The following abbreviations and acronyms are used throughout this combined explanatory memorandum.
| Abbreviation | Definition |
| AASB | Australian Accounting Standard Board |
| CGT | capital gains tax |
| Commissioner | Commissioner of Taxation |
| GDP | gross domestic product |
| GJ | gigajoules |
| GST | goods and services tax |
| ITAA 1936 | Income Tax Assessment Act 1936 |
| ITAA 1997 | Income Tax Assessment Act 1997 |
| LNG | liquefied natural gas |
| LTBR | long term bond rate |
| LTBR + 15 per cent | long term bond rate plus 15 per cent |
| LTBR + 5 per cent | long term bond rate plus 5 per cent |
| Main Bill | Petroleum Resource Rent Tax Assessment Amendment Bill 2011 |
| MEC group | multiple entry consolidated group |
| MRRT | Minerals Resource Rent Tax |
| MRRT Bill | Minerals Resource Rent Tax Bill 2011 |
| PRRT | Petroleum Resource Rent Tax |
| PRRT customs imposition Bill | Petroleum Resource Rent Tax (Imposition - Customs) Bill 2011 |
| PRRT excise imposition Bill | Petroleum Resource Rent Tax (Imposition - Excise) Bill 2011 |
| PRRT general imposition Bill | Petroleum Resource Rent Tax (Imposition - General) Bill 2011 |
| PRRTAA 1987 | Petroleum Resource Rent Tax Assessment Act 1987 |
| TAA 1953 | Taxation Administration Act 1953 |