{"id":"C2004A03553","name":"Petroleum Resource Rent Tax (Interest on Underpayments) Act 1987","slug":"petroleum-resource-rent-tax-interest-on-underpayments-act-1987","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"144 of 1987","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":7383,"registerId":"commonwealth-C2004A03553-current","compilationNumber":null,"startDate":"2026-03-30","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Petroleum Resource Rent Tax (Interest on Underpayments) Act 1987","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![](image.001.png)\n\n \n\n \n\n \n\n \n\n \n\n \n\nPetroleum Resource Rent Tax (Interest on Underpayments) Act 1987\n\n \n\nNo. 144 of 1987\n\n \n\n \n\n \n\n \n\n \n\nAn Act to impose an interest charge in respect of underpayments of certain amounts payable under the Petroleum Resource Rent Tax Assessment Act 1987\n\n \n\n \n\n \n\nContents\n\n[1 Short title](#_Toc425252445)\n\n[2 Commencement](#_Toc425252446)\n\n[3 Imposition of interest charge](#_Toc425252447)\n\n![](image.001.png)\n\n \n\n \n\nPetroleum Resource Rent Tax (Interest on Underpayments) Act 1987\n\n \n\nNo. 144 of 1987\n\n \n\n \n\n \n\nAn Act to impose an interest charge in respect of underpayments of certain amounts payable under the Petroleum Resource Rent Tax Assessment Act 1987\n\n[Assented to 18 December 1987]\n\nThe Parliament of Australia enacts:\n\n##### 1  Short title\n\n  This Act may be cited as the Petroleum Resource Rent Tax (Interest on Underpayments) Act 1987.\n\n##### 2  Commencement\n\n  This Act shall come into operation on the day on which the Petroleum Resource Rent Tax Assessment Act 1987 comes into operation.\n\n##### 3  Imposition of interest charge\n\n  Interest that is payable in accordance with section 65 of the Petroleum Resource Rent Tax Assessment Act 1987 is imposed by this Act.\n\n \n\n \n\n \n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This Act has remained exactly as intended — a brief, technical imposition statute that simply validates interest charges calculated elsewhere. It has not expanded beyond its original narrow purpose."},"complexity_factors":["Only 3 operative sections","No defined terms in the Act itself","Single cross-reference to section 65 of another Act","No conditional logic, exceptions, or procedural requirements","Total length is approximately 200 words","Purely mechanical imposition statute with no substantive rules"],"plain_english_summary":"This is a very short law that does one simple thing: it officially creates an interest charge for people or companies who underpay their Petroleum Resource Rent Tax (PRRT).\n\n**What it does:**\n- **Imposes interest** on unpaid or underpaid PRRT amounts\n- The actual rules about *how much* interest and *when* it applies are in a different law — the Petroleum Resource Rent Tax Assessment Act 1987 (specifically section 65)\n- This Act just makes that interest legally valid and enforceable\n\n**Who it affects:**\n- Oil and gas companies operating in Australian offshore areas who owe PRRT\n- Any taxpayer who underpays their PRRT liability\n\n**Why it matters:**\nWithout this Act, the interest charges described in the Assessment Act might not be legally enforceable. This Act is the \"imposition\" mechanism — it gives the government the constitutional power to collect that interest. It's a technical but necessary piece of the tax collection machinery."}},"importantCases":[],"_links":{"self":"/api/acts/petroleum-resource-rent-tax-interest-on-underpayments-act-1987","history":"/api/acts/petroleum-resource-rent-tax-interest-on-underpayments-act-1987/history","analysis":"/api/acts/petroleum-resource-rent-tax-interest-on-underpayments-act-1987/analysis","conflicts":"/api/acts/petroleum-resource-rent-tax-interest-on-underpayments-act-1987/conflicts","importantCases":"/api/acts/petroleum-resource-rent-tax-interest-on-underpayments-act-1987/important-cases","documents":"/api/acts/petroleum-resource-rent-tax-interest-on-underpayments-act-1987/documents"}}