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PRRT Advanced Workshop: RPM

Tax event | June 2013

Tax event
Event name: PRRT Advanced Workshop: RPM
Event date: Wednesday, 19 June 2013
Event time: 8:45 a.m. for 9:00 a.m. commencement.
Session ends at approximately 12:00 p.m.
Location: Deloitte, Brisbane
Address: Level 25
123 Eagle Street
Brisbane
Speakers and hosts: Kenneth Wee
Stuart Cioccarelli
Justine Neep
Food and beverage: Morning tea provided. Please advise of any dietary requirements when registering.
Enquiries: Shonel Mounfield
Tel: +61 7 3308 7295
RSVP: By Monday, 10 June 2013
Shonel Mounfield
Cost: Complimentary

Background

Integrated gas-to-liquids (GTL) projects have the option of using the Residual Pricing Methodology (RPM) under the Gas Transfer Price Regulations to calculate their Petroleum Resource Rent Tax (PRRT) liability.

This practical, hands-on, advanced course is aimed at finance, accounting and tax personnel responsible for attending to PRRT compliance obligations in relation to integrated GTL operations. It is also designed for those involved with the economic modelling of such projects. The workshop will be run within a classroom-style setting to facilitate participant interaction and uses practical case studies and practice exercises to illustrate the operation of the RPM.

The session will cover the following areas:

  • Overview of the gas transfer price framework
  • Identifying an integrated GTL project and the relevant participants
  • Application of the RPM to alternative integrated GTL project structures 
  • RPM calculation methodology
  • Cost-plus price calculation
  • Netback price calculation
  • Phase points and phase costs
  • Volume and energy coefficients
  • Augmentation, reduction and annualisation of capital costs
  • Identifying personal costs
  • Modifications for the North West Shelf and onshore projects
  • Interaction between the RPM and PRRT instalment calculations
  • Current issues and some common tricks and traps.

Learning materials will be provided to participants and there will be ample opportunity for questions during the workshop. We look forward to seeing you.

We look forward to seeing you.

Need a refresher on the basics of PRRT?  Click here to register for our fundamentals PRRT course.

Presenter Profiles:

Kenneth Wee, Partner
Kenneth has more than 10 years’ experience in providing PRRT advice to a range of multinational oil and gas clients, including assisting clients with PRRT compliance, reviewing PRRT and RPM models, undertaking PRRT due diligence and providing technical PRRT advice on major transactions and GTL project structures. Kenneth has been closely involved in the extension of the PRRT regime to the onshore petroleum sector.

Stuart Cioccarelli, Partner
Stuart has significant tax consulting experience both in Australia and overseas, specialising in corporate and international tax. He advises multinational and local corporations on global and regional tax planning, in addition to investment planning and tax and business issues affecting businesses operating in Australia. He has advised businesses in a range of industries, in particular the coal seam gas and mining sectors. Stuart has assisted many clients in the oil and gas sector in preparing for the PRRT, understanding the tax implications of business growth and change, and determining tax-planning opportunities.

Justine Neep, Director
Justine has corporate and international tax experience in the energy and resources sector, including oil and gas. She has also recent experience managing global tax compliance and tax risk in-house for a Brisbane-based multi-national ASX-listed mining company. In particular, Justine is assisting clients by preparing or reviewing PRRT models and preparing systems and processes for PRRT compliance, as well as providing technical advice on specific PRRT matters.

 

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