Published on 31 Jan 05
by THE TAX INSTITUTE
A joint submission from the Taxation Institute of Australia, the Institute of Chartered Accountants in Australia, CPA Australia and Taxpayers Australia regarding TD 2004/D74 Income tax: consolidation: can the head company of a consolidated group claim a deduction, following Taxation Ruling IT 333, for a consumable's tax cost setting amount when the consumable is used, where: (a) an entity acquired the consumable before it became a subsidiary member of the consolidated group (the joining time); and (b) at joining time, some of the consumable remained on-hand and its expenditure had not been fully deducted?
INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA
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TAXPAYERS AUSTRALIA INC
TAXATION INSTITUTE OF AUSTRALIA
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