Tax revenue from PRRT

Question

1. In terms of Commonwealth taxation revenue from PRRT, it's been reported that the Treasury has been requested to do modelling for another potential change. PMC asked the Treasury to undertake reform options, has this been concluded? 2. Does this modelling include sensitivity modelling? 3. Was Treasury's advice that the PRRT required supplementary change to the amendment done in 2023? 4. Was there a forecast in 2023 to again amend the PRRT a short time later? 5. If the PRRT is amended again in the next 12 months, will it then require further amendment? 6. Can Treasury elaborate on both the revision to the PRRT and company tax receipts over the forwards as a result of the Middle East conflict? 7. Does Treasury provide any measures aimed to incentivise early stage investment by Mum and Dad shareholders into mineral exploration companies? 8. Has the government assessed the strategic opportunities for sustainable and economically viable mining and processing of minerals, inputs such as fuel and related by-products? If so, how? 9. Fuel Tax Credits How do you claim Fuel Tax Credits? 10. Does a company get paid the FTC if they don't claim it? 11. If a company doesn't want to claim the FTC is it a matter of not including diesel usage on its monthly BAS?

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000269 BET096 - Tax revenue from PRRT.pdf (opens in a new tab)