Australia: Consultation on petroleum resource rent tax deductions cap; home battery tax relief estimate
Treasury has opened a consultation on petroleum resource rent tax deductions cap
Treasury has opened a consultation on petroleum resource rent tax deductions cap
Treasury has opened a consultation on an exposure draft bill that would introduce a cap on the use of deductions to offset assessable income for the petroleum resource rent tax (PRRT). The draft bill would partially implement PRRT related measures announced in the 2023-2024 Budget.
The consultation closes 15 September 2023.
More information is available on the Treasury website [PDF 276 KB].
In addition, the Parliamentary Budget Office (PBO) released an estimate on a proposal to provide tax deductions to promote solar home battery systems.
More information is available on the PBO website.
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