This convention paper discusses capital allowances, with a focus on: establishing the cost setting amount, over depreciated asset adjustment, successive application of over depreciated asset adjustment on subsequent acquisition, impact on depreciation rates and effective life, treatment of mining rights rights and ex-GBE assets, market valuation requirements, and cost base of exiting entities.
Sid is currently Technical Leader of the Consolidation Centre of Expertise - assets rules, and has been with the Centre of Expertise for two years. Prior to that he worked in the Large Business & International and litigation areas. Sid has been with the ATO for 27 years, and is qualified in both law and accounting.
Peter is a Senior Tax Partner at KPMG. Peter specialises in advising clients on a broad range of corporate tax
issues and has experience in domestic and international tax matters including advising on mergers and acquisitions, business
tax reform, capital structures, and restructuring international corporate groups. Peter has national responsibility for tax
consolidation for KPMG. Peter has had extensive experience in tax consolidation and participated in a number of Treasury and
Australian Taxation Office consultative groups.
Current at 9 February 2009 Current at 14 May 2009
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