Petroleum Resource Rent Tax (Interest on Underpayments) Act 1987

The Petroleum Resource Rent Tax (Interest on Underpayments) Act 1987 is an Australian Act that imposes an interest charge on underpayments of certain amounts payable under the Petroleum Resource Rent Tax Assessment Act 1987. The Act specifies that the interest charge is payable in accordance with Section 65 of the Petroleum Resource Rent Tax Assessment Act 1987. The legislation defines when the Act comes into operation, and the interest charge is imposed by the Act.