Moreton appealing R&D decision

MORETON Resources has announced it will appeal an Administrative Appeals Tribunal decision that could leave Moreton owing the Australian Tax Office $9 million.

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Moreton appealing R&D decision Moreton appealing R&D decision Moreton appealing R&D decision Moreton appealing R&D decision Moreton appealing R&D decision

Moreton Resources could be facing a $9 million bill from the tax man.

The AAT affirmed the internal review decision of Innovation and Science Australia on September 10 relating to a research and development tax claim Moreton had made.

The R&D claim was in relation to Moreton's underground coal gasification push.

The AAT's argument was that UCG was a known and proven technology and that the activities claimed by the company were not R&D activities as defined by the Income Tax Assessment Act.

At the time the Moreton Resources board questioned the veracity of that conclusion and said it was aware of other controversies surrounding the R&D funding of similar projects elsewhere in Australia.

The company said it had arrangements in place with the ATO that would give it time to have its rights determined through the...

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