The taxpayer has lodged an application for special leave to appeal to the High Court against the Full Federal Court decision in Esso Australia Resources Pty Ltd v FCT [2012] FCAFC 5. The Full Federal Court had unanimously overturned a decision at first instance and held that Esso Australia Resources Pty Ltd was not entitled to a deduction for contract payments made to a subsidiary for the provision of “operations and facilities in connection with a petroleum project” under ss 37 to 39 of the Petroleum Resource Rent Tax Assessment Act 1987.
[LTN 110, 8/6]