Tax treatment of liabilities – The unexplored parallel universe paper

Member Price: $57.00

Non Member Price: $75.00

Publication date: 12 Mar 09

Source: NATIONAL DIVISION, THE TAX INSTITUTE

Abstract:

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
Click here to expand/collapse more articles by Andrew DE WIJN.
 
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 member of the Advisory Panel of the Board of Taxation and a past President of The Tax Institute.
Current at 01 June 2015
Click here to expand/collapse more articles by Ken SPENCE.

Enzo Coia CTA
Formerly a senior associate with Shaddick & Spence, Enzo is a Senior Associate with Greenwoods & Freehills.
Current at 05 May 2009
Click here to expand/collapse more articles by Enzo COIA.

 

This was presented at 24th National Convention 2009.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Justice Hill Memorial Lecture - Statutory interpretation

Author(s):  Murray GLEESON

Materials from this session:


The Commissioner’s powers of general administration: How far can he go?

Author(s):  Bruce QUIGLEY

Materials from this session:


Tax treatment of liabilities – The unexplored parallel universe

Author(s):  Ken SPENCE,  Andrew DE WIJN,  Enzo COIA

Materials from this session:


Foreign income review

Author(s):  Richard SHADDICK

Materials from this session:


Trust busting, tax and the Family Court - Current issues for SME tax advisers

Author(s):  Arlene MACDONALD

Materials from this session:


GST, CGT and stamp duty

Author(s):  Peter GREEN

Materials from this session:


Tax consolidation – The finishing touches?

Author(s):  Tony STOLAREK

Materials from this session:


Getting your practice and clients ready for the new tax agents services regime

Author(s):  Sue WILLIAMSON

Materials from this session:


Property trusts – What’s in store for the future

Author(s):  Daryl CHOO

Materials from this session:


Administration of SME trusts

Author(s):  Ron JORGENSEN

Materials from this session:


The new R&D tax concession

Author(s):  David GELB,  Paul VAN BERGEN

Materials from this session:


Building, buying, holding, selling and valuing intangible business assets

Author(s):  Andrew O'BRYAN

Materials from this session:


TOFA 3 & 4: Practical implications for non-financial institution taxpayers

Author(s):  Neil WARD

Materials from this session:


AMLCTF – An acronym or a possible jail sentence?

Author(s):  David J WILLIAMS

Materials from this session:


GST and property - Finding paths to certainty or is it an irremediable mess?

Author(s):  Gina LAZANAS,  Andrew SOMMER

Materials from this session:


Tax-exempt charities and Prescribed Private Funds and other private charitable foundations

Author(s):  John EMERSON

Materials from this session:


Small business CGT concessions – Some things that may surprise you!

Author(s):  Stephen HOLMES

Materials from this session:


Corporate restructuring: The toolbox and the combinations

Author(s):  Joshua CARDWELL

Materials from this session:


Credit crunch and distressed markets

Author(s):  Duncan R C BAXTER

Materials from this session:


Superannuation: The hot issues

Author(s):  Daniel BUTLER,  Bryce FIGOT

Materials from this session:


Transfer Pricing: Applying the arm’s length principle in a world without comparables

Author(s):  Marc SIMPSON

Materials from this session:


Dealing with blended families as part of succession planning

Author(s):  Daniel FRY,  Reagan GRUENTHAL

Materials from this session:


Long live the goose - Recent cases dealing with tax concession charities

Author(s):  Jennifer BATROUNEY

Materials from this session:


Further details about this event:

 

Copyright Statement