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2010 National Resources Tax Conference

Published on 25 Oct 2010 | Took place at Burswood Complex, Perth, WA

This event delivered a technical program that offered tax specialists in the resources sector an array of interesting and insightful topics.

As most would be aware, this is a very dynamic time in the world of resources taxation with significant new developments such as the proposed Minerals Resource Rent Tax. The technical program dealt with the implications of this tax and also covered a wide range of other topical issues such as exploration deductions, financing, stamp duty and investment from China. Also included was sessions with the Australia Taxation Office as well as a practical case study.

This event brought together many leading tax practitioners from across Australia who shared their experience and knowledge.

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

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Individual sessions

ANZ commodity review

Author(s):  Mark Pervan This presentation covers:

  • China rebounded much quicker from the GFC
  • the falling US dollar has supported prices recently
  • freight markets have not been a good growth indicator
  • rising capacity has created a drag in freight markets
  • commodities look heavily bought on futures markets.
Materials from this session:

Mineral resources rent tax (MRRT)

Author(s):  James MACKY,  Nathan O'CONNOR This paper covers:

  • overview of the MRRT
  • the MRRT principles
  • the MRRT will apply to coal and iron ore projects
  • calculation of MRRT taxable profit
  • MRRT deductible expenditure.
Materials from this session:

The taxing task of taxing resources

Author(s):  Chris RICHARDSON This presentation covers:

  • Australia's growth recovery will continue
  • coal and iron ore dominate the ‘pay rise' the world has given Australia
  • investor rate-related issues
  • the revenue estimates.
Materials from this session:

Enter the dragon

Author(s):  Anthony KLEIN,  Paul ABBEY This paper covers:

  • economic overview
  • inbound investment from China
  • cultural considerations.
Materials from this session:

Tax issues for incidental infrastructure

Author(s):  This paper covers tax issues for incidental infrastruce including:

  • identifying what the payment is for
  • termination.
Materials from this session:

ATO energy & resources update

Author(s):  Michael Smithson This presentation covers:

  • strategic statement 2010 - 2015
  • compliance program 2010-11
  • large business & tax compliance booklet 2010
  • risk differentiation in the large market.
Materials from this session:

The heart of corporate tax: Consolidation

Author(s):  Hayden SCOTT This paper covers:

  • currency (under the functional currency rules)
  • asset based model v inherited history model
  • characterisation (under the single entity and entry history rules).
Materials from this session:

The extended PRRT regime - Issues for the petroleum industry

Author(s):  Harold Payne,  Marc Lewis This paper covers:

  • an overview of the fundamental concepts of the current PPRT regime
  • areas of contention
  • practical issues arising from the proposed extension of the PRRT regime 29
  • transacting in the current environment.
Materials from this session:

Expenditure on exploration or prospecting

Author(s):  Martin FRY 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?
Materials from this session:

Financing of Australian resources projects

Author(s):  Michael CLOUGH,  Catherine KROL This paper covers:

  • internal finance companies can access bad debt deductions
  • Islamic finance for Australian resources projects: Consider withholding tax
  • subordinated loans could fail the debt test
  • transfer pricing
  • funding projects subject to the mineral resource rent tax.
Materials from this session:

Goodwill: Much ado about something

Author(s):  Debra OSBORN This paper covers:

  • Australian judicial approaches to goodwill
  • goodwill, going value and going concern value.
Materials from this session:

Case study: Income tax issues for resources projects

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

  • acquisitions
  • ownership structures
  • admission of new equity partners
  • financing
  • uniform capital allowances.
Materials from this session: