Mitsui & Co (Australia) Ltd v FCT – taxpayer appeals Federal Court’s decision that expenditure on a single mining right can’t be apportioned between amortizable and deductible expenditure [C11]

The taxpayer has appealed to the Full Federal Court against the decision of Siopis J in Mitsui & Co (Australia) Ltd v FCT [2011] FCA 1423. The Federal Court had dismissed the taxpayer’s appeal and upheld the Commissioner’s disallowance of a deduction made in respect of the part of the consideration the taxpayer attributed to a petroleum production field.

[LTN 16, 25/1]