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Moreton Resources appeals tribunal's decision over potential A$9M tax bill

Moreton Resources Ltd. said Oct. 9 that it filed an appeal with the Federal Court of Australia of a tribunal's decision that could lead to a tax bill of about A$9 million.

The Administrative Appeals Tribunal previously affirmed a decision by Innovation and Science Australia, which concluded that underground coal gasification was a known and proven technology and that the company's activities could not be classified as research and development in financial years 2012, 2013 and 2014.

If the Federal Court decides against the company, it will owe the Australian Taxation Office about A$9 million.