Jason Barnes is a special counsel at Mallesons with over 20 years' tax experience. He specialises in income tax, with a particular focus on environmental taxes, the tax aspects associated with renewable energy and decarbonisation projects (such as carbon capture and storage and Australian Carbon Credit Unit (ACCU) generation) and international tax. His practice extends to GST, petroleum resource rent tax (PRRT), payroll tax, stamp duty and other State taxes.
Broad expertise across a range of clients and sectors
Jason advises a diversified mix of Australian and overseas clients in the financial services, insurance, energy and resources, construction, and technology sectors on all aspects of income tax law, including the tax aspects of financing, cross-border, commercial and capital management related transactions. Amongst his many household name clients who regularly call on Jason’s expertise are Goldman Sachs, Citigroup, NAB, Multiplex, Caterpillar, Medibank and Chevron.
Jason’s experience includes two secondments to major banks in Hong Kong and Melbourne.
Tax controversy
Jason has extensive experience in representing clients in their dealings with the Australian Taxation Office (ATO) and State revenue offices, in the context of applying for and obtaining rulings as well as in respect of audits, reviews and disputes (including objections, settlements and litigation).
Thought leadership
In the recent past, Jason has consulted with the ATO, Treasury and the Corporate Tax Association on several key measures impacting business in Australia, including hybrid mismatches, foreign resident capital gains withholding, raising equity to pay franked distributions and the Future Made in Australia critical minerals and hydrogen production tax incentives. He has a keen interest in tax policy, particularly in how the tax system can help Australia to meet its net zero commitment.
As an active member of The Tax Institute, Jason has presented at various forums and conferences, been a member of the organising committee for the National Resources Tax Conference since 2020 and chaired and been a member of the organising committee for the Victorian Annual Tax Forums for many years.
Jason’s work highlights include:
- Citigroup: on the disposal of its Australian consumer business to NAB, and the transfer of RBC’s custodian business to Citi
- BHP: on the demerger of South32, and the sale of its Blackwater and Daunia mines
- Major Australian bank: assisting with a Commonwealth-related regulatory investigation
- Australian property developer: on interest withholding tax, commercial debt forgiveness and value shifting implications of various loan and forgiveness arrangements
- Multinational construction company: on a complex debt/equity issue, including representing witnesses at formal ATO interviews
- Major multinational oil and gas group: on the income tax and PRRT implications of expenditure incurred in respect of a range of greenhouse gas emission reduction projects (such as ACCU acquisitions and generation, and carbon capture and storage)
- Major multinational oil and gas company: on a number of transfer pricing and revenue/capital deduction issues
- Major multinational technology group: on the income and royalty withholding tax aspects of the reorganisation of its end-customer business model in Australia (including Part IVA, the Multinational Anti-Avoidance Law, and the Diverted Profits Tax)
- Multinational oil and gas group: on a number of complex tax depreciation issues, which required engagement with senior officers at the Australian Taxation Office
- Crown Resorts: on the test case on the application of section 25-90 and Part IVA concerning the deductibility of interest payable on funds borrowed to make foreign acquisitions
- Australian health insurer: on a health insurance levy dispute with Revenue NSW
