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Extracting Value series

Extracting Value seriesThe challenges faced by the resources sector are vastly different to other industries. We've created our Extracting Value publication to share our industry knowledge and contribute to global debates on topical issues facing the the oil & gas and mining sectors. 

Predominantly focussed on financial reporting developments, we also cover other topical matters from time to time.

 

Resources taxation reform and financial reporting

In this special edition of Extracting Value, we analyse some of the conceptual accounting issues arising from the Federal Government’s proposed Mineral Resource Rent Tax (MRRT) and extension of Petroleum Resource Rent Tax (PRRT).

On 10 June 2011, the Federal Government released for public comment an exposure draft for some aspects of the proposed MRRT legislation, which will apply to all iron ore and coal projects (with some limited exceptions).

 

Read more in Issue 12 of Extracting Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Related links

  • Issue 12: July 2011
    On 10 June 2011, the Federal Government released for public comment an exposure draft for some aspects of the proposed MRRT legislation, which will apply to all iron ore and coal projects (with some limited exceptions).
  • Issue 11: March 2011
    The IASB has begun redeliberating the proposals in ED/2010/9 'Leases' issued in August 2010 - which has seen some tentative decisions which differ from the proposals in exposure draft, in response to over 750 comment letters received.
  • Issue 10: December 2010
    An update on indirect and employment tax developments - fuel tax credits and fly-in fly-out arrangements
  • Issue 9: September 2010
    Focussed on the Draft IFRIC Interpretation DI/2010/1 'Stripping Costs in the Production Phase of a Surface Mine', recently released by the International Accounting Standards Board (IASB).
  • Issue 8: May 2010
    Explores the near-term financial reporting implications of the proposed Resources Super Profits Tax (RSPT).
  • Issue 7: November 2009
    Developments in accounting for stripping costs (waste and overburden removal) and its wider implications for cost accounting by mining and oil and gas companies.
  • Issue 6: September 2009
    A special edition focussing exclusively on the draft Discussion Paper 'Extractive Activities', recently released 'for information purposes' by the IASB.
  • Issue 5: June 2009
    Discusses a number of issues for resources entities to consider in the June reporting season.
  • Issue 4: March 2009
    Focusses on two topical financial reporting issues: segment reporting and impairment.
  • Issue 3: December 2008
    Financial reporting implications of the global financial crises for the resources sector.
  • Issue 2: September 2008
    Focusses on recent financial reporting developments, a carbon trading update and challenges and opportunities for Japanese investment in resources.
  • Issue 1: June 2008
    Inaurgaral edition discussing Petroleum Resource Rent Tax (PRRT), joint ventures and emission trading schemes.
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