An appeals court has unanimously rejected the Commissioner of Taxationâs latest bid to block Shellâs $2.3 billion tax deduction for the cost of exploration activities conducted as part of the Browse LNG project off the coast of Western Australia.
The ATO is challenging a judge’s decision to allow oil giant Shell Australia $2.2 billion in deductions for the cost of certain exploration activities conducted under an acquisition that increased its stake in Woodside Energy’s Browse Basin gas exploration joint venture project.
Fossil fuel giant Shell Australia has partially won a challenge to a tax office decision denying deductions claimed over an acquisition the increased the company’s stake in Woodside Energy’s Browse Basin gas exploration joint venture project.