Petroleum Resource Rent Tax

Allens has one of Australia's leading tax practices, with particular expertise in Petroleum Resource Rent Tax (PRRT) issues. Our technical expertise, coupled with our commercial acumen, means that our clients receive high-quality commercial advice designed to achieve the best and most practical outcome.

Our PRRT team provides the full range of services from advice to dispute resolution.

We are recognised market leaders in dealing with audit and dispute issues. We are at the forefront of many of the significant PRRT issues affecting the industry, having represented taxpayers in a significant number of the disputes which have arisen with the ATO to date. Some of these disputes have been resolved by negotiation while others are currently before the Courts.

We also advise on PRRT issues associated with the structuring of joint ventures, acquisitions and farm-ins.

Industry experience

Our partners are recognised industry leaders who have close connections both with members of the industry, the Australian Petroleum Production & Exploration Association and senior personnel within the Australian Taxation Office.

Our clients include some of Australia's largest petroleum companies such as ExxonMobil, Woodside, Shell, BHP Billiton Petroleum, Chevron, Anadarko, Beach Petroleum and many others.

Members of our PRRT team have many years experience in dealing with the petroleum industry. They have developed an understanding of the activities involved in processing hydrocarbons and many practical issues associated with the management of petroleum joint ventures, accounting and treasury activities. This knowledge assists us to provide you with practical and insightful advice.

See our publications on Petroleum Resource Rent Tax.