Published on 17 Nov 06
by THE TAX INSTITUTE
A joint professional body submission sent to the ATO in relation to the draft consoldation tax determination TD 2006/D41: consolidation: subsidiary in liquidation - for the purposes of subsection 711-45(1) of the Income Tax Assessment Act 1997, is the amount of an unsatisified liability owed to another member of the consolidated group (intra-group liability') by a subsidiary member at the time it is deregistered equal to the market value of the corresponding asset of that other member?
NATIONAL INSTITUTE OF ACCOUNTANTS
TAXPAYERS ASSOCIATION OF NEW SOUTH WALES
TAXATION INSTITUTE OF AUSTRALIA