Considered a key specialist tax adviser to energy and resources companies, Philip Bisset combines tax advice in all facets of revenue law (including taxation, stamp duty, GST and Petroleum Resource Rent Tax) with acting for clients in tax disputes.

From his time as a partner in a "big four" accounting firm and in-house with Exxon and Rio Tinto, Philip has a strong practical knowledge of major facilities (such as oil platforms and gas plants), and knows how to work closely with corporate tax teams to structure the tax aspects of inbound and outbound investments, and devise tax dispute resolutions, that are robust and commercially savvy.

He's particularly skilled in the Petroleum Resource Rent Tax and he's one of the rare tax lawyers who has worked with clients continuously on the impact of the PRRT since its introduction in 1990.

Read More

Expertise

Expand all

Taxation

Tax-effective structuring and other corporate tax advice

Major refinery development:
 Philip assisted in the negotiation and structuring of government assistance for a major refinery development.

Corporate structures: Philip established the corporate structures for boutique vineyards and wineries in the Adelaide Hills.

Listed Australian metals producer: Philip established the structure of its offshore marketing operations.

Listed mining company: Philip established the internal tax team and taxation policy framework for a listed mining company and designed and implemented its GST system.

Private equity: Philip structured the inbound investment in Australian resource projects.

Offshore resource projects: Philip structured Australian investments in offshore resource projects.

Confidential resources client: Philip assisted with negotiating and structuring government assistance for a major Australian refinery development.

Confidential resources client: Philip established the internal tax team and taxation policy framework for a listed mining company.

GST: Philip has designed and implemented the GST systems for many clients including large corporations. 

Expatriate taxation: Philip has managed the expatriate taxation issues for a number of multinational corporations in Australia and operating offshore. 

Corporate tax: Philip is an integral member of corporate teams advising on major mergers and acquisitions of all sizes. He is involved in performing due diligence assignments on these acquisitions and has structured major facilities acquisitions.

Advice on tax reforms

Philip has worked extensively with various industry bodies to assist with submissions in response to the ongoing Australian tax reform process. Philip is a former member of the Minerals Council Business Tax Advisory Group and he has also worked with the Gold Council of Australia in drafting proposed taxation reforms to encourage a greater level of exploration activity in Australia. Philip advised and assisted the Association of Mining and Exploration Companies to draft proposed amendments to the MRRT legislation. 

Philip has also assisted the Aluminium Council of Australia lobby the Taxation Office about the revised depreciation rates for aluminium smelters and alumina refineries.

See Taxation

Taxation Disputes

ATO audits: Philip has extensive experience dealing with requests from the ATO and has negotiated various Tax Office audit settlements on his clients’ behalf. 

Bass Strait Producers: As taxation adviser to the Bass Strait Producers in the Gascor and Gen Vic PRRT gas price arbitrations, Philip negotiated the taxation of the settlement proceeds with the ATO, together with the timing of derivation of income.

Resource Capital Fund III LP v Commissioner of Taxation: Philip acted for the PE fund against the ATO in a dispute over the fund's liability to tax in Australia in respect of investments in Australian resource companies.

Esso Australia Limited: Philip acted for Esso in relation to FBT exemption for Child Care Centres on an employer's premises. 

Esso Australia Limited: Philip negotiated various Tax Office audit settlements for Esso Australia Limited/Esso Australia Resources Limited. 

Confidential offshore resources client: Philip acted as instructing solicitor to overturn an ATO ruling that the company had a permanent establishment in Australia pursuant to the Australian Swiss Double Tax Agreement.

Confidential minerals producer: Philip acted as instructing solicitor in WA land rich stamp duty dispute.

Confidential client: Philip acted as instructing solicitor and successfully settled a dispute concerning the CGT treatment of shares lost upon a margin lender being placed into administration. He also secured ATO test case funding for the matter.

Confidential resources client: Philip acted as instructing solicitor in a carried forward loss matter.

Mitsui & Co (Australia) Ltd v Commissioner of Taxation: Philip acted as instructing solicitor in a Federal Court matter concerning the interpretation of the exploration deduction provisions.

Confidential super yacht manufacturer: Philip acted as instructing solicitor in settling a transfer pricing audit.

See Taxation Disputes

Knowledge

    Related knowledge information is loading