Published on 04 Jun 04
by QUEENSLAND DIVISION, THE TAX INSTITUTE
Tax consolidation issues have been discussed and workshopped extensively over the past two years but now it's time for many corporates to bite the bullet, finalise their calculations and lodge their first consolidated return.
This paper reviews technical positions being taken on common difficult issues. It will also highlight the new issues that corporates will have to confront as they operate into the future as consolidated tax groups.
- The ACA 'terrible timing': Step 2 liabilities and Step 3 retained earnings.
- What are 'assets' for ACA allocation purposes.
- Capital allowance assets: 'over-depreciation' and future depreciation rates.
- Strategies for loss and value 'donations'.
This was also presented at the Consolidation: 10 traps to watch out for seminars held in Melbourne on 20 May 2004 and in Sydney on 26 May 2004.
Kenneth Spence CTA-Life
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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