Published on 12 Mar 09
by NATIONAL DIVISION, THE TAX INSTITUTE
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 presentation 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.
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
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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