True-up Shortfall Levy (General) (Carbon Tax Repeal) Act 2014

The True-up Shortfall Levy (General) (Carbon Tax Repeal) Act 2014 is an Act that imposes a levy on true-up shortfalls under the Clean Energy Legislation (Carbon Tax Repeal) Act 2014. The Act defines the terms "true-up shortfall", "Joint Petroleum Development Area", "person", and "leaky book adjustment". It also sets out the impostion of levy on true-up shortfalls, the amount of which is calculated using a formula. The Act does not impose a tax on property of a State. The compilation includes endnotes that provide information about the compilation, amendments, and legislation history.

Key points:

The Act imposes a levy on true-up shortfalls under the Clean Energy Legislation (Carbon Tax Repeal) Act 2014.
The Act defines the terms "true-up shortfall", "Joint Petroleum Development Area", "person", and "leaky book adjustment".
The amount of levy imposed is calculated using a formula.
The Act does not impose a tax on property of a State.
The compilation includes endnotes that provide information about the compilation, amendments, and legislation history.

Compilation details:

Compilation number: 1
Compilation date: 19/06/2018
Registered: 19/06/2018
* Includes amendments up to Act No. 41, 2018.