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The income tax considerations faced by junior explorers paper


This paper looks at the tax implications for your clients who are junior explorers. The paper provides an overview of general considerations together with an in-depth look at the issues facing such companies as they expand overseas.

The paper covers:

  • Part I: General considerations
    • deductibility of exploration costs
    • impact of capital raisings
    • employment tax issues (shares and options issued to employees and directors)
    • implications of farm-ins and farm-outs
  • Part II: Offshore expansion
    • structuring offshore exploration activity
    • deductibility of head office costs
    • treatment of funding offshore activities
  • Part III: Resource Taxes
    • overview of the MRRT and PRRT regimes
    • implications for junior explorers.

Author profile

Jason Barnes CTA
Jason Barnes is a Special Counsel in the Melbourne office of King & Wood Mallesons and has over 15 years' tax experience at leading law and accounting firms. His experience includes two secondments to major banks in Hong Kong and Melbourne. Jason primarily practices in the area of income tax (including tax audits and litigation), but he has a broad ranging practice that extends to goods and services tax, stamp duty, fringe benefits tax and resource taxes. He advises Australian and overseas clients on the tax aspects of financing, international and cross-border, commercial, capital management and workplace and employment related transactions. Jason has been recognised as a rising star in the area of tax in the 2nd edition of Euromoney's LMG Rising Stars 2016 guide. - Current at 09 September 2016
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