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Tax Administration Act 1994

Determinations

91: Determinations in relation to petroleum mining operations

You could also call this:

"Rules for petroleum mining operations and tax"

Illustration for Tax Administration Act 1994

When you are involved in petroleum mining operations, some questions may arise. You may wonder what proportion of a permit is disposed of when the holder sells it. You can find the answers to these questions by looking at the Income Tax Act 2007. You may also need to determine the consideration and deductions for a permit and other assets. The Commissioner can help you with this by making a determination. The Commissioner can consult with experts and organisations to make this determination. If the Commissioner makes a determination, they will give you notice of the decision. The Commissioner can also change or cancel a determination if needed. They can consult with government departments and other organisations to help make their decision.

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Part 5Determinations

91Determinations in relation to petroleum mining operations

  1. For the purposes of the Income Tax Act 2007, if a question arises as to—

  2. in any case where the holder of a petroleum permit disposes of the permit, the proportion of the permit disposed of; or
    1. in any case where a petroleum permit is disposed of together with petroleum mining assets, the consideration and the deductions to be attributed to—
      1. the permit; and
        1. any asset of the kind described in section CT 7(1)(b) or (c) of the Income Tax Act 2007; or
        2. whether, and if so when, a permit has been relinquished; or
          1. the year or date of first commercial production for a permit area in which a petroleum miner holds an interest; or
            1. whether any expenditure incurred before 16 December 1991 on an exploratory well contributed to defining the scope, character, or size of any deposit of petroleum; or
              1. in the case where petroleum mining operations are carried on outside New Zealand, the foreign equivalent of—
                1. a prospecting permit; or
                  1. a mining permit; or
                    1. the extension of a mining permit; or
                      1. the relinquishment of a permit,—
                        2. that question shall be determined, for the purposes of ascertaining the income of the petroleum miner for any year,—
                      2. by agreement between the petroleum miner or petroleum miners affected and the Commissioner; or
                        1. in the absence of such agreement, by the Commissioner after consulting, if the Commissioner considers it necessary, with any organisation or person having relevant expertise or information.

                          1. For the purposes of subsection (1)(f), the Crown Minerals Act 1991 is used to determine by analogy the equivalents in the context of the relevant foreign regime for the licensing and conduct of petroleum mining operations of—

                          2. obtaining a permit; or
                            1. determining whether or when a permit has been relinquished; or
                              1. interpreting other relevant documents or matters relating to the licensing and conduct of petroleum operations.

                                1. Where the Commissioner is satisfied that a determination made under this section should be varied or rescinded, or restricted or extended in scope, the Commissioner may make a fresh determination (whether by agreement with the petroleum miner or miners affected or by the Commissioner after such consultation, if any, as the Commissioner considers necessary) which shall be effective to vary, rescind, restrict, or extend the earlier determination.

                                2. Where the Commissioner makes a determination under subsection (1) or subsection (2),—

                                3. the determination shall be subject to such terms and conditions as are agreed or as the Commissioner may specify; and
                                  1. the Commissioner shall give notice of the determination and any terms and conditions to the petroleum miner in respect of whom the determination is made within a reasonable period of time.

                                    1. Repealed

                                    2. Repealed

                                    3. For the purpose of determining any question under subsection (1) or subsection (2), the Commissioner may consult with the appropriate government department or other body, or with any other organisation or person having relevant expertise or information, and any government department or government body so consulted shall provide such assistance or advice as the Commissioner reasonably requires.

                                    4. Repealed
                                    Compare
                                    • 1976 No 65 s 214L
                                    Notes
                                    • Section 91(1): amended, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
                                    • Section 91(1): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
                                    • Section 91(1): amended, on (applying to 1997–98 and subsequent income years), by section 450 of the Taxation (Core Provisions) Act 1996 (1996 No 67).
                                    • Section 91(1)(b): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
                                    • Section 91(1)(b)(ii): replaced, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
                                    • Section 91(1)(b)(ii): amended, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
                                    • Section 91(1B): inserted, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
                                    • Section 91(3)(b): amended, on (effective for 2005–06 tax year and later tax years, except when the context requires otherwise), by section YA 2 of the Income Tax Act 2004 (2004 No 35).
                                    • Section 91(4): repealed, on , by section 13 of the Tax Administration Amendment Act (No 2) 1996 (1996 No 56).
                                    • Section 91(5): repealed, on , by section 13 of the Tax Administration Amendment Act (No 2) 1996 (1996 No 56).
                                    • Section 91(7): repealed, on , by section 13 of the Tax Administration Amendment Act (No 2) 1996 (1996 No 56).