Published on 22 Aug 03
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
This seminar paper examines some of the definitional issues surrounding Division 125, including:
- 20% ownership interest requirement for demerger subsidiary and 'ultimate' head entity in defining demerger group
- methods of demerger restructuring under paragraph 125-70(1)(b)
- Subsection 125-70(2) proportionality requirements
- requirements of paragraphs 45B(8)(a) and (8) (i)
- tax treatment of a non-conforming demerger. Is Division 125 an exclusive demerger code?
- insights into the ATO's administration of Division 125 and section 45B as it relates to demergers.
Gordon is a Partner in the Corporate Tax practice of Deloitte. He has over 20 years experience in mining and energy, financial services and property sectors. He was extensively involved in the consultation arrangements regarding the introduction of Division 125 and the amendments to s45B to accommodate demerger relief.
Current at 19 March 2009 Current at 30 April 2009
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Martin is senior tax counsel with the Australian Taxation Office. A long time servant of the Commissioner, he acquired an Appeals Branch background before joining the Tax Counsel Network in the mid 90s. Along the way he has been involved in devising the early self assessment changes and in the development of the ill fated Tax Value Method. Martin is now the Senior Tax Counsel with national responsibility for CGT, and as such, has been the approving officer for most of the relevant Public Rulings and Tax Determinations that have been issued by the Commissioner over the last few years; assists in litigation and audit activities which involve significant CGT aspects; represents the ATO at meetings of the Losses and Capital Gains Tax Subcommittee of the National Tax Liaison Group; and works closely with the Losses and Capital Gains Tax Centre of Expertise. He is well placed to identify emerging CGT issues that will be of interest to practitioners.
Current at 26 June 2006 Current at 21 March 2013
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