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Published on 05 Oct 06
by VICTORIAN DIVISION, THE TAX INSTITUTE
There is now a veritable menu of rollovers, reliefs and consolidation rules which can potentially apply to mergers, demergers and asset transfers. Each item on the menu has its own pre-requisites and there are some common rules to observe. Overlaying that are specific and the general anti-avoidance provisions. This paper will help you understand how they all come together and identify traps to avoid. We will not be cooking the books, but you will learn how to choose from the menu without getting egg on your face. Topics covered in this paper include:
pulling companies apart using the demerger rules
the section 45B ATO practice statement
putting companies back together using the CGT rollover rules
using the consolidation regime to move assets between companies
theoretical possibilities versus practical realities.
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