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29 Jun 11 Consolidation: recognising and measuring liabilities of a joining entity – addendum to TR 2004/14

On 29 June 2011 the ATO released an addendum to Taxation Ruling TR 2004/14, which deals with consolidation: recognising and measuring the liabilities of a joining entity under s 705-70(1) ITAA 1997 where the entity becomes a subsidiary member of a consolidated group in a financial reporting period of the entity not beginning on or after 1 January 2005: TR 2004/14A2.

The addendum amends TR 2004/14 to take into account the changes introduced by the Tax Laws Amendment (2010 Measures No 1) Act 2010.