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It's important to start by getting your As and Bs right: capital benefit schemes paper

Published on 17 Mar 05 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

This paper looks at some practical emerging issues flowing from the operation of sections 45A and 45B in relation to distributions by companies including:

  • overview of ss 45A and 45B including role, function and application so far
  • S45B and demergers
  • where is the ATO likely to apply the provisions?
  • how do we speed up the process and add certainty to getting the Commissioner's favourable determination?
  • how are these provisions to be practically applied by taxpayers - does it mean that every transaction involving a distribution by a company needs a ruling from the ATO before it can proceed?

Author profile

Kenneth Spence CTA-Life
Photo of author, Ken SPENCE Ken is a Special Counsel in the Melbourne office of Greenwoods & Herbert Smith Freehills. He has been closely involved for many years in advising Australian and foreign-owned listed companies on M&A transactions and has been extensively involved with both clients and tax professional bodies in relation to all aspects of the tax consolidation regime. Ken is a past President of The Tax Institute. - Current at 25 May 2017
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This was presented at 20th National Convention: Tax Unmasked .

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