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Company tax loss recoupment rules: Exposure draft - good and not so good!

Publication date: 25 Feb 05 | Source: WEEKLY TAX BULLETIN

Issue: No 8 25 February 2005

Pages: 279-281

Abstract:

Bad debt write-offs can be recouped by a company if it passes the more than 50% continuity of ownership test, or failing that, by the same business test. The Government has introduced an Exposure Draft that will modify the criteria and application of these tests.

 

 

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Author profiles

Geoff KIRK
Geoff is a senior manager with Ernst & Young. He has over ten years experience in direct tax advisory, specialising in income and capital gains tax in the minerals, energy and utilities industry. Geoff's principal area of expertise is with respect to the availability and utilisation of tax losses under consolidations.
Current at 31 July 2006 - Current at 16 August 2006
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Andrew Woollard CTA
Andrew Woollard FTIA is a Tax Partner with Ernst & Young, specialising in corporate and international tax. Andrew has over 15 years experience in advising clients on a broad range of corporate tax issues, including M&A transactions, restructuring, and business tax reform issues, including tax consolidation and tax loss issues. - Current at 30 August 2017
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