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International Financial Reporting Standards - Key Impacts to Accounting for Tax Consolidated Groups

Published on 09 Nov 2005 | Took place at Portside Centre, Sydney , NSW

The recently finalised Urgent Issues Group Interpretation 1052 (UIG 1052) represents a significant change in the way to account for tax consolidation. This seminar detailed the changes as well as provided worked examples of the alternatives available under UIG 1052. In addition, the accounting changes may give rise to implications for existing tax funding arrangements (TFAs).

Individual sessions

AIFRS and tax: accounting for tax consolidation under UIG 1052

Author(s):  Michelle COURTS

Matters covered in this presentation include:

  • AIFRS and UIG 1052 timeline
  • AGAAP UIG 52 or AIFRS UIG 1052
  • tax effect accounting under UIG 1052
  • allocation options: worked examples
  • transitional issues
  • implications for tax funding agreements
  • tax consolidated groups - TFA or no TFA
  • MEC group issues
  • tax sharing agreements - an update
  • key actions.
Materials from this session: