Tax treatment of liabilities – The unexplored parallel universe paper

Member Price: $57.00

Non Member Price: $75.00

Publication date: 12 Mar 09



To date, the focus of our tax system has been on transactions involving assets, with only limited attention being given to liabilities. Recent legislative developments are addressing this imbalance, albeit in a piecemeal fashion. This paper deals with:

  • ambiguities raised by the way in which the tax system has traditionally dealt with liabilities
  • how liabilities alter tax outcomes on asset and entity acquisition transactions
  • the proposed TOFA treatment of liabilities
  • options for a more consistent tax treatment of liabilities.

Author profiles:

Andrew De Wijn CTA
Andrew is a Barrister at the Victorian Bar specialising in federal and state tax matters. Prior to joining the Bar he was a solicitor with Greenwoods & Freehills for eight years and worked exclusively in tax.
Current at 22 September 2013
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Kenneth Spence CTA-Life
Ken is a Special Counsel in the Melbourne office of Greenwoods & Herbert Smith Freehills. He has been closely involved for many years in advising Australian and foreign-owned listed companies on M&A transactions and has been extensively involved with both clients and tax professional bodies in relation to all aspects of the tax consolidation regime. Ken is a former member of the Advisory Panel of the Board of Taxation and a past President of The Tax Institute.
Current at 23 June 2016
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Enzo Coia CTA
Formerly a senior associate with Shaddick & Spence, Enzo is a Senior Associate with Greenwoods & Freehills.
Current at 05 May 2009
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This was presented at 24th National Convention 2009.

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Individual sessions

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Author(s):  Murray GLEESON

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Tax treatment of liabilities – The unexplored parallel universe

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