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Tax treatment of liabilities – The unexplored parallel universe paper


To date, the focus of our tax system has been on transactions involving assets, with only limited attention being given to liabilities. Recent legislative developments are addressing this imbalance, albeit in a piecemeal fashion. This paper deals with:

  • ambiguities raised by the way in which the tax system has traditionally dealt with liabilities
  • how liabilities alter tax outcomes on asset and entity acquisition transactions
  • the proposed TOFA treatment of liabilities
  • options for a more consistent tax treatment of liabilities.

Author profiles

Enzo Coia CTA
Enzo is a Tax Partner at Deloitte. He has more almost 20 years’ experience providing advice on Australian and international taxation matters. He specialises in mergers and acquisitions, capital management and dealing with revenue authorities. He has a deep understanding of the energy and resources industry and is expertly placed to understand clients’ needs having spent several years in a senior tax leadership position at a multinational oil and gas company. - Current at 29 May 2019
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Andrew De Wijn
Andrew is a Barrister at the Victorian Bar specialising in federal and state tax matters. Prior to joining the Bar he was a solicitor with Greenwoods & Freehills for eight years and worked exclusively in tax. - Current at 22 September 2013
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Kenneth Spence CTA-Life
Photo of author, Ken SPENCE Ken is a Special Counsel in the Melbourne office of Greenwoods & Herbert Smith Freehills. He has been closely involved for many years in advising Australian and foreign-owned listed companies on M&A transactions and has been extensively involved with both clients and tax professional bodies in relation to all aspects of the tax consolidation regime. Ken is a past President of The Tax Institute. - Current at 23 August 2016
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This was presented at 24th National Convention 2009 .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Justice Hill Memorial Lecture - Statutory interpretation

Author(s):  Murray GLEESON

Materials from this session:

The new R&D tax concession

Author(s):  David GELB,  Paul VAN BERGEN

Materials from this session:

Transfer Pricing: Applying the arm’s length principle in a world without comparables

Author(s):  Marc SIMPSON

Materials from this session:

Long live the goose - Recent cases dealing with tax concession charities

Author(s):  Jennifer BATROUNEY

Materials from this session:

Further details about this event:


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