On Tuesday 24 March 2015, Craig Bowie CTA (Minter Ellison) attended a meeting of the ATO Energy and Resources Working Group. At the meeting, a number of issues were discussed, including:
- The composition of the Working Group;
- The corporate transparency measure, particularly as it applies to companies in the energy and resources sector;
- A discussion of the high priority issues for the energy and resources sector that the ATO should focus on in 2015;
- An in-depth discussion about the interpretation of section 40-80; and
- Administration issues related to the RRT, in particular the PRRT and MRRT.
The ATO also advised that the “Exploration Development Incentive” website has recently gone live.
Members who seek further information in relation to the above should contact us at Tax Policy.