Australian Income Tax bill introduced – tenement realignments and farm-ins/farm-outs

On 25 June 2015, the Australian Government introduced a tax bill (Tax and Superannuation Laws Amendment (2015 Measures No 2) Bill 2015) to Parliament dealing with tenement realignment and farm-in-farm-outs. Broadly, upon enactment of the bill the following rules will apply (retrospectively from 14 May 2013): There will be an income tax roll-over for tenement … Read more

2013 Budget – Changes affecting the mining sector

The Federal Government’s 2013-2014 Budget (the Budget) contains a number of changes to existing tax rules some of which are expected to have adverse implications on the mining sector. Changes to accelerated tax depreciation arrangements The Federal Government announced immediate changes to Australian tax laws which impact income tax deductions available to mining companies. The … Read more