According to the highly regarded Angela McDonald-Smith in today's AFR:
"(N)ew rules, which were passed this month and will take effect on July 1, close a loophole that enabled onshore explorers to offset their offshore tax liability under the Petroleum Resource Rent Tax. They also wipe off the tax value of onshore investment made in the past.
https://www.copyright link/business/energy/gas/santos-signals-earnings-impact-from-retrospective-tax-changes-20190416-p51ern
CTP has accumulated Petroleum Resource Rent Tax deferred tax assets of $244m (2018 AR Note 4e) not recognised on the balance sheet. This asset has to be considered lost. IMHO, no-one except me attached a value to this contingent asset in the share price of CTP, so likely minimal impact.
Ash
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