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Published on 11 Oct 12
by VICTORIAN DIVISION, THE TAX INSTITUTE
Ten years into the consolidation regime, the tax cost setting rules have changed with retrospective effect. There are also changes to the TOFA stages 3 and 4 interaction rules. This paper concentrates on issues of vital importance to corporate taxpayers and their advisers, and covers:
practical issues in dealing with retrospective amendments
what is left to claim: contracts, intangibles and consumables
the business acquisition model and future acquisitions
the TOFA–consolidation interfact
the impacts for SMEs
the Board of Taxation’s post-implementation review.
Richard is an Executive Director with the Ernst & Young National Tax Group. Richard focuses on the
identification and analysis of new developments and new issues for the Ernst & Young tax practice and clients. He has been
heavily involved in business tax reform developments and participates in numerous consultation forums with the Treasury
and the Australian Taxation Office, as well as industry and professional bodies and is a current member of the NTLG
Consolidation Subcommittee. Current at 9 February 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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