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Exploration issues presentation

Published on 17 Oct 12 by NATIONAL DIVISION, THE TAX INSTITUTE

What comprises exploration activity and exploration expenditure is a critical issue for resource companies for both income tax and resource rent tax purposes. While exploration expenditure deductions have been a feature of the tax law for decades, ensuring the exploration deduction provisions operate as intended is as important to the industry now as it has ever been.

This presentation examines topical exploration and related issues, including:

  • the policy behind exploration deductions
  • differences between corporate tax, PRRT and MRRT classification of exploration
  • common law vs extended law interpretations of exploration
  • the asset “first use” concept for income tax
  • recent precedent and ATO views
  • where to from here?

Author profiles

Andrew Nelson CTA
Andrew has been a partner with EY since 2008 and has 23 years experience providing international and corporate taxation advisory services to Australian outbound and multinational clients investing into Australia. Commencing his early career with a resource industry and US inbound focus, Andrew now specialises in providing international tax support for cross border transactions across a broad industry base. Recent transactions include cross border M&A and financing projects in the asset management, private equity, consumer products, technology, media and entertainment and oil and gas and mining industries. From 2014 to 2017 Andrew was based in New York as the leader of the Australian team in the Global Tax Desk network, a role that involved immersion in the OECD BEPS developments impacting on global corporate M&A and financing. Now based back in Perth Australia, Andrew holds a Masters of International Taxation from the University of Melbourne and holds a senior leadership role within the EY Oceania international Tax practice. - Current at 25 June 2018
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Basil Mistilis
Basil is a Partner with Ernst & Young and is the leader of Ernst & Young’s tax practice in Perth. A qualified chartered accountant with more than 20 years experience, Basil specialises in providing tax advice to companies in the resources industry. Basil has participated in government liaison on key tax policies affecting the resources industry (including resource rent taxes) and has worked on submissions for various industry bodies. - Current at 17 October 2102
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This was presented at 2012 National Resources Tax Conference .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Preparing for tax disputes

Author(s):  John W DE WIJN,  Andrew BROADFOOT

Materials from this session:






MRRT - Where are we now?

Author(s):  James STRONG

Materials from this session:




Keeping our ear to the ground - The ATOs administration of the resource rent taxes

Author(s):  Stephanie MARTIN

Materials from this session:


Further details about this event:

 

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