On 27.8.13 the Commissioner issued a Decision Impact Statement in relation to Esso Australia Resources Pty Ltd v FCT [2011] FCAFC 154. In that case, the Full Federal Court dismissed the taxpayers’ appeals and the Commissioner’s cross-appeal in a matter concerning the liability of 2 companies (BHP Billiton Petroleum (Bass Strait) Pty Ltd and Esso Australia Resources Pty Ltd (Esso)) to petroleum resource rent tax (PRRT) under the Petroleum Resource Rent Tax Assessment Act 1987 (PRRTA Act) as co-venturers from their series of offshore petroleum facilities located in Bass Strait and their Gippsland onshore processing and storage operations. Broadly, the ATO said in the Decision Impact Statement that the Court’s decision was consistent with the Commissioner’s views on the “taxing point” issue and the “tax or pay” issue.
[LTN 165, 27/8/13]