Published on 16 May 13
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
This paper is based on a practical case study to show how the consolidation provisions apply to set the tax cost of assets for acquisitions under the rules that apply from 2011.
Some of the issues the case study focus on include:
- treatment of non-CGT assets such as customer relationships
- treatment of rights to future income (RTFI) assets
- implications for amounts that are allocated to goodwill
- treatment of accounting liabilities and the related interaction of the consolidation and TOFA regimes.
Julian Pinson, FTI, is a Partner at Greenwoods & Herbert Smith Freehills Pty Limited. Julian advises on a wide range of tax matters, with a focus on banking and financial services, property, M&A and funds management. Julian has particular expertise in cross-border finance, TOFA, corporate restructures, debt and equity raisings and M&A.
- Current at
14 January 2021
Craig Marston, CTA, is a member of KPMG’s tax practice. Craig advises on a range of tax matters for various Australian listed and multinational groups. Craig’s experience includes working with several Australian banks and life/funds management groups, as well as various listed and foreign private property trusts. More recently Craig’s particular interest is working with “start-ups” to realise their international expansion ambition.
- Current at
09 July 2018