The Australian Government will introduce a temporary levy on offshore petroleum production in Commonwealth waters. This is to recoup the Commonwealth’s costs to decommission and remediate the Laminaria-Corallina oilfields and associated infrastructure.
The government has released a consultation paper to engage with liable entities ahead of draft legislation.
The paper details the operation of the levy, including the:
Interested stakeholders can email feedback on the levy design to email@example.com.