scholarly journals Recent Developments in Federal Taxation of Interest to the Resource Industries

1985 ◽  
Vol 24 (1) ◽  
pp. 115
Author(s):  
Robin J. MacKnight
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Recent Developments ◽  
Cut Set ◽  
Federal Taxation ◽  
Legislative Changes

This paper considers certain aspects of the proposed legislative changes to the Income Tax Act (Canada) and the Petroleum and Gas Revenue Tax Cut set out in the January 30, 1985 and May 9, 1985 Notices of Ways and Means Motions, the Western Accord and the federal budget of May 23, 1985 which may be of interest to advisers to the oil and gas industry. Certain of these changes have been incorporated in Bill C-72, which was passed October 29, 1985, and draft amendments to the Petroleum and Gas Revenue Tax Act released September 16, 1985.

Recent Developments in the Law of Interest to Oil and Gas Lawyers

1985 ◽  
Vol 24 (1) ◽  
pp. 143
Author(s):  
Robert P. Desbarats ◽  
Lorne W. Carson ◽  
Donald E. Greenfield
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Separate Paper ◽  
Judicial Decisions ◽  
Tax Legislation ◽  
Recent Developments ◽  
Federal Income Tax ◽  
The Subject

The purpose of this paper is to discuss recent developments in the la w which are of interest to lawyers whose practice relates to the oil and gas industry. It deals with both judicial decisions and statutory developments during the last year. Some of the cases discussed do not pertain directly to the oil and gas industry. These cases have been included either because they involve situations analogous to those which occur frequently in the oil and gas business or because they concern principles of law which are applicable to that industry. In order to place some limit on the scope of the paper, only federal and Alberta legislative developments are reported. In addition, we have not discussed federal income tax legislation, which is the subject of a separate paper delivered at this year's conference. The review of the legislation is effective as of May 1, 1985.**

scholarly journals Recent Developments in the Law of Interest to Oil and Gas Lawyers

1987 ◽  
Vol 26 (1) ◽  
pp. 152
Author(s):  
Robert P. Desbarats ◽  
Donald E. Greenfield ◽  
Michael J. Hopkins
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Judicial Decisions ◽  
Tax Legislation ◽  
Recent Developments ◽  
Federal Income Tax ◽  
The Law

The purpose of this paper is to discuss recent developments in the law which are of interest to lawyers whose practices relate to the oil and gas industry. The paper deals with both judicial decisions and statutory developments during the last year. Some of the cases discussed do not pertain directly to the oil and gas industry, but have been included either because they involve situations analogous to those which occur in the oil and gas business or because they concern principles of law which are applicable to that industry. In order to place some limit on the scope of the paper, only federal and Alberta legislative developments are reported. In addition, we have not discussed federal income tax legislation. The review of legislation is effective as of June 1,1987.

Australian oil and gas exploration: the dawn of a new fiscal regime?

2014 ◽  
Vol 54 (2) ◽  
pp. 529
Author(s):  
Kenneth Wee ◽  
Janelle O'Hare
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Narrow View ◽  
Analytical Work ◽  
Recent Developments ◽  
Fiscal Regime ◽  
Oil And Gas Sector

The ever-evolving Australian tax landscape has brought particular attention to the scope of exploration activities in the oil and gas industry in recent times. While recent developments have attempted to shed light on the interpretation of œexploration expenditure, the narrow view adopted has raised more questions than answers, which may significantly impact the after-tax economics of projects in the oil and gas industry. Examples include: the recent AAT decision in the ZZGN case and the commissioner’s views set out in the draft taxation ruling TR 2013/D4 on the scope of deductible exploration expenditure in the PRRT context; and, the then Labor-led federal government’s proposed changes in the 2013–14 federal budget to limit an upfront deduction on œgenuine exploration activities for income tax purposes, which would have a far-reaching impact. Broadly, the recent reforms seek to limit the application of the exploration expenditure deductibility rules to the technical analytical work undertaken to evaluate/appraise the resource and expenditure incurred in direct relationship with said technical work. This presents various tax technical, commercial and practical issues that signal a new dawn in the approach to exploration expenditure for participants in the oil and gas industry. This extended abstract analyses the recent reforms and their impact on the oil and gas sector, provides an outlook of the new direction of potential fiscal change, and assesses what this might mean for the Australian oil and gas industry.

scholarly journals Recent Developments in the Law of Interest to Oil and Gas Lawyers

1988 ◽  
Vol 27 (1) ◽  
pp. 124
Author(s):  
R. P. Desbarats ◽  
D. E. Greenfield ◽  
M. J. Hopkins
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Judicial Decisions ◽  
Recent Developments ◽  
Federal Income Tax ◽  
The Law

The purpose of this paper is to discuss recent developments in the law which are of interest to lawyers whose practices relate to the oil and gas industry. This paper deals with both judicial decisions and statutory developments during the last year. Some of the cases discussed do not pertain directly to the oil industry, but have been included either because they involve situations analogous to those which occur in the oil and gas business or because they concern principles of law which are applicable to that industry. In order to place some limit on the scope of this paper, only federal and Alberta legislative developments are reported. In addition federal income tax is not discussed. The review of legislation is effective as of June 1, 1988.

scholarly journals Recent Developments in the Law of Interest to Oil and Gas Lawyers

1986 ◽  
Vol 25 (1) ◽  
pp. 82
Author(s):  
Robert P. Desbarats ◽  
Donald E. Greenfield ◽  
Lorne W. Carson
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Judicial Decisions ◽  
Tax Legislation ◽  
Recent Developments ◽  
Federal Income Tax ◽  
The Law

The purpose of this paper is to discuss recent developments in the law which are of interest to lawyers whose practices relate to the oil and gas industry. The paper deals with both judicial decisions and statutory developments during the last year. Some of the cases discussed do not pertain directly to the oil and gas industry, but have been included either because they involve situations analogous to those which occur in the oil and gas business or because they concern principles of law which are applicable to that industry. In order to place some limit on the scope of the paper, only federal and Alberta legislative developments are reported. In addition, we have not discussed federal income tax legislation. The review of legislation is effective as of April 1,1986.

What Does Rent Give to Federal Budget (on the Russia's Budget Dependence upon "Oil Dollars")

2004 ◽  
pp. 51-69 ◽  
Author(s):  
E. Sharipova ◽  
I. Tcherkashin
Keyword(s):  
Oil And Gas ◽  
Strong Dependence ◽  
Oil Prices ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Tax Legislation ◽  
Russian Economy ◽  
The Government

Federal tax revenues from the main sectors of the Russian economy after the 1998 crisis are examined in the article. Authors present the structure of revenues from these sectors by main taxes for 1999-2003 and prospects for 2004. Emphasis is given to an increasing dependence of budget on revenues from oil and gas industries. The share of proceeds from these sectors has reached 1/3 of total federal revenues. To explain this fact world oil prices dynamics and changes in tax legislation in Russia are considered. Empirical results show strong dependence of budget revenues on oil prices. The analysis of changes in tax legislation in oil and gas industry shows that the government has managed to redistribute resource rent in favor of the state.

scholarly journals A Perspective on Merger Review and Other Current Topics under the Competition Act

1991 ◽  
Vol 29 (1) ◽  
pp. 171
Author(s):  
Calvin S. Goldman
Keyword(s):  
Free Trade Agreement ◽  
Review Process ◽  
Oil And Gas ◽  
Trade Agreement ◽  
Oil And Gas Industry ◽  
Case Law ◽  
Gas Industry ◽  
Recent Developments ◽  
Potential Impact ◽  
Broad Overview

In this article, the author examines recent developments under the federal Competition Act and its potential impact on mergers in the oil and gas industry. The author provides a broad overview of the merger review process and highlights recent Canadian case law on mergers. Implications of the Canada-U.S. Free Trade Agreement on the administration of competition law in Canada are also canvassed.

Contemporary fiscal issues impacting M&A in the oil and gas sector

2012 ◽  
Vol 52 (1) ◽  
pp. 149
Author(s):  
Kenneth Wee
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Regular Feature ◽  
Gas Industry ◽  
Resource Rent ◽  
Petroleum Resource ◽  
Recent Developments ◽  
Australian Economy ◽  
To Come ◽  
Oil And Gas Sector

Ongoing growth in deal activity in the oil and gas industry is one of the critical forces underpinning the sustained robustness of the Australian economy. Australian oil and gas assets continue to attract significant international interest and are actively pursued by global and domestic investors alike. On the supply side, exploration players are seeking the necessary funding and technical support to commercialise prospective oil and gas discoveries, while on the demand side, major established oil and gas companies are seeking to acquire viable targets as a means of rapidly replenishing their reserves. Consequently, merger and acquisition (M&A) deals and asset trades have become a regular feature of the corporate oil and gas scene in Australia. In time to come, a wave of industry consolidation is likely to emerge. This paper discusses key fiscal aspects of M&A transactions, as affected by recent developments in the Australian taxation landscape, and their impact on the overall economics of, and extracting value from, an investment in the oil and gas sector, including: the taxation of farm-in/farm-out arrangements, asset swaps and carry arrangements; structuring the deal consideration for fiscal efficiency; takeover and acquisition vehicle structures; the M&A issues associated with the extension of the Petroleum Resource Rent Tax (PRRT) to the onshore oil and gas industry; consideration associated with capital management, capital structure and financing trends for the industry; exit and repatriation routes—do all roads lead to tax?; managing transaction costs; and, managing tax risks in M&A deals.

Tax issues impacting acquisitions in the Australian oil and gas industry

2011 ◽  
Vol 51 (2) ◽  
pp. 669
Author(s):  
Chad Dixon
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Investment Decision ◽  
Oil And Gas Industry ◽  
Capital Gains ◽  
Capital Gains Tax ◽  
Gas Industry ◽  
Resource Rent ◽  
Goods And Services ◽  
Petroleum Resource

Understanding the tax implications and structuring options of a transaction is critical when assessing and comparing new opportunities. When undertaking any transaction involving Australian oil and gas assets, the applicable taxation regime should be carefully explored and understood. From an Australian perspective, taxes such as corporate income tax, petroleum resource rent tax, capital gains tax, and goods and services tax have significant potential to influence the investment decision. This presentation will focus on the tax implications applicable to the acquisition and disposal of Australian oil and gas assets, providing valuable insights for both Australian companies and inbound investors.

scholarly journals Federal Income Taxation of Oil and Gas Operations

1977 ◽  
Vol 15 (3) ◽  
pp. 455
Author(s):  
M. A. Carten
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Income Taxation ◽  
Tax System ◽  
Basic Principles ◽  
Gas Industry ◽  
Business Operations ◽  
Oil And Gas Operations ◽  
Federal Income Tax

In his paper Mr. Carten discusses the Canadian federal income tax system and its application to the oil and gas industry. His principal concern is with those situations in which the taxation of the profits of the industry is not subject to the same basic principles of taxation as are other business operations in Canada.

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