Information on the Treasury website will be published in accordance with the Department of the Prime Minister and Cabinet's Guidance on Caretaker Conventions. No election-related material will be available on this website. Please see the relevant minister's or party's website for more information on election-related material.

Laminaria-Corallina Decommissioning Levy

This consultation process has now been completed.
Consultation Type
Exposure Draft

Key Documents

The Government has announced it will introduce a temporary levy on offshore petroleum production. The levy will recover the Commonwealth’s costs of decommissioning the Laminaria-Corallina oil fields and associated infrastructure. Imposition of the levy is to ensure taxpayers are not left to pay for the decommissioning and remediation of production facilities and associated infrastructure in the Laminaria and Corallina oil fields. 

It is intended that the levy will apply to registered holders of petroleum production licences under the Offshore Petroleum and Greenhouse Gas Storage Act 2006. The levy will be at a standardised rate of 48 cents per barrel of oil produced in each levy year. The Australian Taxation Office will administer the levy.

Feedback from stakeholders is sought on the attached Exposure Draft legislation.  


No submissions are currently available.