Home General Information Direct Taxes Indirect Taxes Contact Us Links Downloading Reports  will require Acrobat  Reader. (click below)	DIRECT TAXES - Taxation of Resource Projects (click on heading below then click again) Income Tax Additional Profits Tax Allowable Capital Expenditure Allowablel Exploration Expenditure Additional Exploration Deductions Accelerated Deductions Operating Expenses Interest Deductions Infrastructure Credit Mining Levy Income Tax Different rates of tax apply for different types of resource projects.
		Type of project	rate of income tax	rate of dividend withholding tax
		Petroleum	45% -50%	none
		Gas	30%	none
		Mining	30%	10%
	The rate of income tax for petroleum projects was reduced from 50% to 45%, commencing in 2001. But this reduced rate does not apply to existing projects or the forthcoming Moran project. Additional Profits Tax Additional profits tax (APT) is payable when a company has recovered its investment in a project and has achieved a return on its investment above a certain level. From year 2001 onwards, APT is a 'two tier' system: when net cash receipts exceed the accumulated value of total expenditure uplifted by 15%, APT is payable at 20%; when net cash receipts exceed the accumulated value of total expenditure uplifted by 20%, APT is payable at 25%. Interest payments and receipts are ignored in the APT calculation. View and Print Resource Projects (Resource Projects.PDF 7KB)

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