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
Click here to expand/collapse more articles by Andrew DE WIJN.
Kenneth Spence CTA-Life
Ken is a Greenwoods & Freehills' Director. He has been closely involved in advising Australian and foreign listed entities on the tax consolidation regime and its impact on M&A transactions since the regime was first proposed in 1999. Since then, Ken has represented clients and tax professional bodies at all major consultation forums dealing with tax consolidations, including the NTLG Tax Consolidation subcommittee. He is on the Advisory Panel to the Board of Taxation, has assisted the Board as an Expert Panel member on their recent tax consolidation reviews and is a past President of The Tax Institute.
Current at 02 August 2012
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.

Purchase all materials from this event

Get a 20% discount when you buy all the items from this event. To purchase individual items from this event, please see below.

Purchase individual materials from this event:

Justice Hill Memorial Lecture - Statutory interpretation
Author(s):  Murray GLEESON

Material from this session:

The Commissioner’s powers of general administration: How far can he go?
Author(s):  Bruce QUIGLEY

Tax treatment of liabilities – The unexplored parallel universe
Author(s):  Ken SPENCE,  Andrew DE WIJN,  Enzo COIA

Foreign income review
Author(s):  Richard SHADDICK

Material from this session:

Trust busting, tax and the Family Court - Current issues for SME tax advisers
Author(s):  Arlene MACDONALD

GST, CGT and stamp duty
Author(s):  Peter GREEN

Material from this session:

Tax consolidation – The finishing touches?
Author(s):  Tony STOLAREK

Getting your practice and clients ready for the new tax agents services regime
Author(s):  Sue WILLIAMSON

Property trusts – What’s in store for the future
Author(s):  Daryl CHOO

Administration of SME trusts
Author(s):  Ron JORGENSEN

The new R&D tax concession
Author(s):  David GELB,  Paul VAN BERGEN

Material from this session:

Building, buying, holding, selling and valuing intangible business assets
Author(s):  Andrew O'BRYAN

TOFA 3 & 4: Practical implications for non-financial institution taxpayers
Author(s):  Neil WARD

AMLCTF – An acronym or a possible jail sentence?
Author(s):  David J WILLIAMS

GST and property - Finding paths to certainty or is it an irremediable mess?
Author(s):  Gina LAZANAS,  Andrew SOMMER

Tax-exempt charities and Prescribed Private Funds and other private charitable foundations
Author(s):  John EMERSON

Small business CGT concessions – Some things that may surprise you!
Author(s):  Stephen HOLMES

Corporate restructuring: The toolbox and the combinations
Author(s):  Joshua CARDWELL

Credit crunch and distressed markets
Author(s):  Duncan R C BAXTER

Superannuation: The hot issues
Author(s):  Daniel BUTLER,  Bryce FIGOT

Material from this session:

Transfer Pricing: Applying the arm’s length principle in a world without comparables
Author(s):  Marc SIMPSON

Dealing with blended families as part of succession planning
Author(s):  Daniel FRY,  Reagan GRUENTHAL

Long live the goose - Recent cases dealing with tax concession charities
Author(s):  Jennifer BATROUNEY

Further details about this event:

Copyright Statement