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Mineral and Petroleum Tax (LAWS70399)
Graduate coursework level 7Points: 12.5Not available in 2024
Overview
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Mineral and petroleum resources play a significant part in the Australian economy. The exploitation of these resources involves governments, as proprietors and regulators, together with private enterprise, as explorers and developers. The complex relationship between governments and private enterprise includes several fiscal components: State and Territory royalties and stamp duties; Commonwealth income tax, GST, customs and excise, and ‘carbon taxes’; and ‘special’ Commonwealth levies, such as the Petroleum Resource Rent Tax and the Minerals Resource Rent Tax. Australia’s federal system of government adds an important dimension to that relationship.
This subject examines all aspects of these fiscal measures relating to mineral and petroleum resources. The subject is not limited to tax specialists. It is designed for private and public sector lawyers and advisers with tax or non-tax backgrounds, seeking a practical overview of the legal and taxation implications of mining and petroleum operations and transactions, as well as an understanding of the framework of mining and petroleum laws that underpin the relevant tax regimes.
Principal topics include:
- Property in minerals and petroleum
- Constitutional authority over exploration for, and production of, minerals and petroleum
- Statutory regimes governing exploration for, and production of, minerals and petroleum
- Tenement transfers and sub-leases, farmouts, joint ventures and overriding royalties
- State and Territory royalties
- Corporate income taxation of exploration for, and production of, minerals and petroleum
- Petroleum Resource Rent Tax
- Selected GST issues
- Selected stamp duty issues.
Intended learning outcomes
A student who has successfully completed this subject will:
- Have an advanced and integrated understanding of the legal and taxation principles relating to such operations and transactions in Australia
- Be able to critically examine, analyse, interpret and assess the effectiveness of these principles
- Be an engaged participant in debate regarding emerging and contemporary issues in the field of mineral and petroleum taxation
- Have a sophisticated appreciation of the commercial factors driving the evolution of the legal and taxation framework for such operations and transactions
- Have an advanced understanding of situations in which legal disputes may arise within these operations and transactions
- Have the cognitive and technical skills to generate critical and creative ideas relating such operations and transactions, and to critically evaluate existing legal theories, principles and concepts with creativity and autonomy
- Have the cognitive and technical skills to independently examine, research and analyse existing and emerging legal and taxation issues arising from such operations and transactions in Australia
- Have the communication skills to clearly articulate and convey complex information regarding such operations and transactions to relevant specialist and non-specialist audiences
- Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of mineral and petroleum taxation.
Last updated: 30 January 2024
Eligibility and requirements
Prerequisites
None
Corequisites
None
Non-allowed subjects
None
Recommended background knowledge
Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 30 January 2024
Assessment
Description | Timing | Percentage |
---|---|---|
Option 1: Take-home examination
| 100% | |
Option 2: Research paper on a topic approved by the subject coordinator
| 100% | |
Hurdle requirement: A minimum of 75% attendance | Throughout the teaching period | N/A |
Additional details
Note: Students must choose assessment from the options listed above. If an option contains parts, all parts must be completed if that option is chosen.
Last updated: 30 January 2024
Quotas apply to this subject
Dates & times
Not available in 2024
Time commitment details
136-150 hours The pre-teaching period commences four weeks before the subject commencement date. From this time, students are expected to access and review the Reading Guide that will be available from the LMS subject page and the subject materials provided by the subject coordinator, which will be available from Melbourne Law School. Refer to the Reading Guide for confirmation of which resources need to be read and what other preparation is required before the teaching period commences.
Additional delivery details
This subject has a quota of 30 students. Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.
Last updated: 30 January 2024
Further information
- Texts
Prescribed texts
Specialist printed materials will be made available free of charge from the Melbourne Law School prior to the pre-teaching period.
- Related Handbook entries
This subject contributes to the following:
- Links to additional information
law.unimelb.edu.au
- Available through the Community Access Program
About the Community Access Program (CAP)
This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.
Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.
Additional information for this subject
If required, please contact law-admissions@unimelb.edu.au for subject coordinator approval.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 30 January 2024