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.
Peter Murray CTA-Life
Peter Murray is a Senior Tax Partner at KPMG and KPMG
Tax Law and past President of The Tax Institute. 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 also focuses on managing tax disputes and
providing legal tax advice. Current at 09 November 2012
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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.