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Petroleum Tax: Introduction

Format: 1/2 day

Resource taxation (Oil & Gas, Mining) in Canada is subject to a variety of special rules under the Income Tax Act.  In particular, since the Resource industry is very capital-intensive, there are a number of special rules for classifying and deducting capital expenditures for exploration, drilling, plants, and both surface and in-situ development and construction.

This course will provide you with a basic understanding of the key tax laws that affect oil and gas companies that explore, develop, construct, produce, and buy and sell oil & gas properties.  It will cover both how and why the Canadian governments use the tax laws to regulate the industry.  It will also look at some of the differences between accounting and tax treatments, so when you receive information requests from the Tax department, you’ll have some understanding of what that information may be used for.

Instructor: Keith Raskob-Smith

An Image of Keith Raskob-Smith

Keith is originally from Manitoba, spent 5 years in Northern BC, and has been located in Calgary for the last 18 years.  He holds a B.Comm from University of Manitoba, and has been a CMA since 1998.  Keith was with the CRA when he came to Calgary.  He then started auditing oil & gas for 6-7 years and then in mid-2000’s CA firms were looking for Tax guys, and he went to work for KPMG.  In 2010 he moved over to Husky Energy as Tax Manager, in 2012 he moved to Devon Energy as Tax Manager.  He has dealt with the oil & gas tax laws from three sides – the CRA, public practice, and industry.

Fee:
$300 +GST Members
$350 +GST Non-members

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