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Breakfast Club - Tax Consolidations: Emergency Procedures

Published on 29 May 2003 | Took place at Leonda by the Yarra, Hawthorn, VIC

As the financial year moves inexorably toward its end, the focus of tax executives and practitioners will be directed toward the consolidation regime and understanding the numerous technical areas, lessons learned to date, long term pitfalls and of course whether will we advise on electing in or out.

Given the need to decide on consolidation by lodgement of the 2003 tax return the time factor is now starting to add to the adviser's log of consolidation issues that for many represent the most significant corporate development for 17 years.

Individual sessions

Tax Consolidations: Emergency Procedures

Author(s):  Tony BAXTER This presentation provides a synopsis of the issues to address and the decisions and actions you need to take in considering when and how to deal with consolidation. Topics covered include:

- client case diagnostic
--- can you consolidate?
--- do transition concessions apply?
--- will consolidating be beneficial? (past and future losses, dividend flows, restructures, step-up in basis)
--- what traps exist (capital gains, losing or reducing basis, WIP)

- how to approach a BOTE (back of the envelope) calculation
--- where are the assets?
--- how were they funded?
--- where is the value?
--- where is the tax basis?

- case studies.

Materials from this session: