Petroleum Resource Rent Tax Assessment Amendment Act 2006 (78 of 2006)

Schedule 5   Other amendments

Part 1   Amendments

Petroleum Resource Rent Tax Assessment Act 1987

13   At the end of section 48

Add:

(3) The vendor must give written notice of the transaction, in the approved form, to each purchaser before the end of the later of the following days:

(a) the 60th day after entering into the transaction;

(b) the 60th day after the purchasers give consideration for the entitlement and property.

Note: Subdivision 388-B in Schedule 1 to the Taxation Administration Act 1953 applies to approved forms under this subsection.