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Expenditure on exploration or prospecting paper

Published on 25 Oct 10 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper covers:

  • tension points in relation to exploration
  • a commercial discovery, or a commercially viable project?
  • exploration or prospecting as defined in Division 40 of the Tax Act 1997
  • meaning of 'feasibility studies to evaluate economic feasibility' of mining
  • the relevance of the final investment decision
  • is it correct to distinguish between a commercial discovery and a commercially viable project?

Author profile

Martin Fry FTI
Martin Fry, FTI, is the Practice Leader of the Allens Tax Group. With over 20 years as a Partner of Allens, Martin advises corporations on a broad range of tax issues across a wide range of sectors, including resources, infrastructure, financial services and IP-intensive businesses. In recent years, Martin has focused on contentious transfer pricing matters, including audits, settlement negotiations, mutual agreement procedure and litigation. Martin has taught Corporate Tax at a postgraduate level at the University of Melbourne. - Current at 12 May 2021
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This was presented at 2010 National Resources Tax Conference .

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ATO energy & resources update

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Case study: Income tax issues for resources projects

Author(s):  Lynette Purcell,  Andrew NELSON,  Jason Mulgat,  Basil MISTILIS

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