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


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 23 August 2016
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This was presented at 20th National Convention: Tax Unmasked .

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