Published on 11 Oct 12
by VICTORIAN DIVISION, THE TAX INSTITUTE
The government has announced its intention to reform the tax loss provisions. This paper examines the difficulties of using the current provisions, the proposed reforms and examine areas where further reforms are required.
The paper covers:
- loss carry backs
- changes to continuity of ownership and same business tests
- what should we do with the integrity rules?
- announced but yet un-enacted measures – Div 167
- the not-so-hidden costs of the proposed reforms.
Michelle is an Account Director at Deloitte.
Gary Christie is head of Deloitte’s National Tax technical area. Gary provides advice on a wide variety of transactions as well as undertaking the internal tax technical training and quality assurance reviews for Deloitte nationally. Gary is also heavily involved in a range of consultation on new tax measures with both Treasury and the ATO. Prior to joining Deloitte, Gary spent over 25 years in the ATO mainly in the Large Business and International segment, the last few years occupying the role of Assistant Commissioner. He also headed up the National Energy and Resource segment and was critically involved in the management and resolution of large audit cases and disputes. Gary has an excellent working relationship with the ATO and an in-depth understanding of its administrative processes.
- Current at
12 September 2012