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11th National Tax Intensive Retreat: A Balancing Act

Published on 21 Aug 2003 | Took place at Sheraton Noosa Resort, National

The focus of this retreat was on corporate reorganisation issues. It commenced with an examination of Part IVA and CGT reduction arrangements affecting corporate restructuring issues, and then proceeded to undertake a detailed technical review of several practical implications of the new general value shifting rules, the demerger rules, accessing stamp duty relief and the CGT and loss preservation rules in the context of reorganisations.

The corporate reorganisation area was chosen as a retreat focus due to the ever-increasing prominence of corporate group advising in the day-to-day operations of tax practice. Recent decisions and comments by the ATO have placed corporate groups and their tax structures and transactions under increased scrutiny and review. Accordingly, practitioners and in-house taxation advisers need to be fully appraised of current trends and interpretations.

Get a 20% discount when you buy all the items from this event.

Individual sessions

Part IVA - Reconciling the Irreconcilable

Author(s):  Mark GOLDSMITH Recent years have seen the corporate group increase its significance in the Australian taxation system. Even in the past few months developments have occurred which highlight even more the importance of tax advisings to and within corporate groups. This seminar paper provides an important introduction to the broader context in which advisings are developed and delivered in the corporate tax area.

- The current state of play with Part IVA
- The Commissioner's view of Part IVA
- CGT reduction arrangements - TD 2003/3
- What all this means for directors, executive officers and advisers.

Materials from this session:

A Practical Analysis of Value Shifting 12 months on

Author(s):  Lachlan R WOLFERS This seminar paper covers the following issues:
- accessing the myriad of different exceptions under new value shifting rules
- direct value shifting - an examination of changes from old Div 140
- indirect value shifting - the practical shifting implications of these new provisions
- an analysis of specific value shifting issues commonly arising for business, such as dividend access shares, debt forgiveness, interaction with demergers and consolidations.

This paper was also presented by Ken Schurgott at the A Tax Focus for Small Business and the Rural Industry seminar held in Ballina on 21 May 2004.

This is a slightly modified version of a paper presented by the author at the 11th National Tax Intensive Retreat in Noosa on 21 August 2003.

Materials from this session:

In Search of the True Demerger

Author(s):  Martin KEATING,  Gordon THRING This seminar paper examines some of the definitional issues surrounding Division 125, including:
- 20% ownership interest requirement for demerger subsidiary and 'ultimate' head entity in defining demerger group
- methods of demerger restructuring under paragraph 125-70(1)(b)
- Subsection 125-70(2) proportionality requirements
- requirements of paragraphs 45B(8)(a) and (8) (i)
- tax treatment of a non-conforming demerger. Is Division 125 an exclusive demerger code?
- insights into the ATO's administration of Division 125 and section 45B as it relates to demergers.

Materials from this session:

Stamp Duty Relief for Reorganisation

Author(s):  Harry LAKIS This seminar paper covers the following issues:
- overview of duty base - business property and shares
- allocation of value across jurisdictions for goodwill and IP
- the corporate reorganisation concessions - rules and pitfalls for seeking stamp duty relief
- accessing concessions for consolidations and demergers - considering transactions that will qualify.

Materials from this session:

CGT Implications and Loss Preservation on Reorganisation

Author(s):  David LINKE,  Andrew HAMAD This seminar paper covers the following issues:
- CGT rollover relief especially Subdivision 126-B
- scrip for scrip and other CGT concessions (other than the demerger concessions)
- loss integrity measures including 'same share / same owner' rule, the unrealised loss provisions and the integrity measures aimed at loss cascading
- the preservation of tax attributes by the Group during the reorganisation
- the application of Part IVA in the context of such reorganisations.

Materials from this session: