Petroleum Resource Rent Tax (Instalment Transfer Interest Charge Imposition) Act 2006

No. 79, 2006

An Act to impose instalment transfer interest charge as a tax in some circumstances

Contents

An Act to impose instalment transfer interest charge as a tax in some circumstances

[Assented to 30 June 2006]

The Parliament of Australia enacts:
1 Short title

This Act may be cited as the Petroleum Resource Rent Tax (Instalment Transfer Interest Charge Imposition) Act 2006.
2 Commencement

This Act commences, or is taken to have commenced, on 1 July 2006.
3 Imposition 1

Instalment transfer interest charge is imposed as a tax by this section, but only to the extent to which that charge cannot validly be imposed otherwise than as a tax.

 2

In this section:

instalment transfer interest charge means the charge payable under section 98A of the Petroleum Resource Rent Tax Assessment Act 1987.

[Minister’s second reading speech made in—

House of Representatives on 25 May 2006

Senate on 15 June 2006]