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Draft legislation on consolidation measures

Publication date: 09 Jun 15 | Source: CCH TAX WEEK

Issue: Issue 17, 8 May 2015

Pages: pp 1-4


Treasury has released the long awaited exposure draft legislation in relation to a number of outstanding tax consolidation amendments.The proposed new rules are being aimed at "restoring integrity to the consolidation regime" by proposing a number of key amendments, outlined in this article. Taxpayers will need to carefully consider the impact of the changes on future acquisitions and revisit acquisitions that have occurred since 14 May 2013 to determine tax positions for prior and future income years.

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Author profiles

Wayne Plummer ATI
Photo of author, Wayne PLUMMER Wayne Plummer is a Tax Partner at PwC with over 30 years of corporate tax experience. He advises a range of multinational companies in relation to their Australian tax affairs. Wayne specialises in the tax consolidation rules, capital management and M&A. - Current at 19 June 2018
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Tom Seymour
Tom is a Partner in PricewaterhouseCoopers' Corporate Taxation Services practice in Brisbane and is the National Leader of PricewaterhouseCoopers' Energy & Mining Tax practice. Tom also leads the firm's Mining Oil & Gas group in Brisbane. Tom's specific areas of focus include Australia's Uniform Capital Allowance Regime, tax optimisation for Allowance Regime, tax optimisation for capital intensive industries, international tax matters, tax effective ownership structures, disposals and acquisitions. - Current at 14 June 2007
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Warren Dick
Warren works for PricewaterhouseCoopers. - Current at 20 August 2008
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David Lewis
David recently retired as a partner in EY. He has over 25 years international tax and transfer pricing experience, covering most industries for both outbound and inbound clients. His technical experience covers international tax, transfer pricing and tax effective supply chain. He has been a key strategic adviser to one of the biggest corporate insolvencies in the world where transfer pricing was a key commercial issue between the various insolvency estates that formerly comprised the multinational group. David has established Ambleton Consulting to make his skills available to clients. He has forged an alliance with Duff & Phelps to make their global network and vast tax and economic resources available to his clients. - Current at 03 July 2014
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Scott Bryant CTA
Photo of author, Scott BRYANT Scott is a Senior Tax Partner in the PwC International network with more than 30 years Professional Services experience in a wide range of Industry, Client facing and Firm Leadership roles. Based in Adelaide, Scott has also worked in a number of markets and most recently Tokyo, advising a wide range of multi-national, listed and large private companies on market entry and associated tax issues. Scott is a former Taxation Institute SA State Councillor, SA Education Committee member, CTA and is a regular presenter of taxation related papers and topics both locally and nationally. - Current at 13 November 2019
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