Johnson Winter & Slattery is engaged by major businesses, investment funds and government agencies as legal counsel on important transactions and disputes throughout Australia and surrounding regions.
We are continually evolving and adapting our diversity and inclusion programs to better support our people, clients and communities.
Our news and media coverage including major transaction announcements, practitioner appointments and team expansions.
We support a number of community initiatives and not for profit organisations across Australia through pro bono legal work and charitable donations.
Our firm provides a diverse range of opportunities for talented, enthusiastic people to develop brilliant legal careers.
The Senate referred an inquiry into Australia’s oil and gas reserves to the Senate Economics References Committee on 19 September 2019. The reporting date for the inquiry has been extended to 2 December 2021.
The inquiry’s full terms of reference indicate that it will investigate:
a) arrangements used by other countries to maximise the benefit to the public of national oil and gas reserves;
b) an arrangement that could be considered to maximise benefit to the public of Australia's national oil and gas resources, cognisant of:
(i) sovereign risk,
(ii) existing property rights, and
(iii) federal and state jurisdictions; and
c) any related matters.
The basis for the inquiry is concern around the tax treatment of the industry raised by South Australian Senator Rex Patrick. Rates of corporate tax and petroleum rent resource tax are sticking points between oil and gas companies and various commentators who have suggested that low tax rates are caused by an undervaluation of gas within the gas transfer pricing rules.
The inquiry is also interested in the tax environment for oil and gas in other jurisdictions, with Senator Patrick referencing the approach taken in Norway, Mexico and Saudi Arabia in particular. As such, the Senate standing committee will analyse the approaches taken elsewhere and develop recommendations maximising benefit to the public.
To date the inquiry has received 40 submissions from major oil and gas companies, tax institutes and other concerned groups.
Given the passage of time since submissions were first closed in November 2019, submissions and supplementary submissions have now been re-opened, and will be accepted until 3 September 2021.
Be the first to receive the latest articles, news and publications.
Who makes decisions about the development of Australia’s offshore oil & gas resources, and who pays to decommission end-of-life assets, have been high on the news agenda since the owner of the...
We have advised on the establishment of Gurīn Energy, a new Asian renewable energy development platform backed by Infratil Limited.
We have advised Co-operative Bulk Handling Limited on its new long-term rail haulage and maintenance agreement with Aurizon.