Our experience includes:
Point of valuation of gas produced
Advising Esso in relation to the point at
which gas produced for further processing is to be valued for PRRT purposes.
Take or pay payments
Advising Esso and BHP Petroleum in relation to the
assessability of payments received under take or pay arrangements.
Exploration expenditure
Advising a number of participants about the extent to
which significant pre-development expenditure undertaken qualifies as
exploration expenditure.
Transferable expenditure
Advising BHP Petroleum and Shell Development Company
in relation to issues associated with the transferability of inherited
expenditure from one project to another.
Deductibility of hedge losses
Advising Woodside on the deductibility of losses
made on oil price hedges.
Payments under service agreements
Advising Esso on the deductibility of
payments made under service agreements.
Costs incurred at head office
Advising on the deductibility of various costs
incurred in activities undertaken at an office located at a capital city.
Combination certificates
Advice in relation to ability to obtain combination
certificates for associated projects.
Farm-ins
Advice in relation to the implications of farm-in arrangements on the
treatment of deductible expenditure.
Joint ventures
Advising on the PRRT implications of complex and unusual joint
venture arrangements involving interests in part only of the petroleum produced
and/or downstream processing.
