Company tax loss recoupment rules: Exposure draft - good and not so good!
25 Feb 05 |
WEEKLY TAX BULLETIN
Issue: No 8 25 February 2005
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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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
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
03 September 2010