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Losses update paper


The ability of companies to preserve and utilise carry forward tax losses continues to present challenges both for taxpayers and Government Revenue.

This paper covers:

  • current status of proposed loss carry back rules and review of loss rules recommended by Business Tax Working Group report on the tax treatment of losses
  • challenges faced by taxpayers in satisfying the “continuity of ownership” and “same business” tests
  • losses in the consolidation context, including transfers of losses to the head company of a consolidated group and available fraction calculations
  • current ATO compliance activity around loss claims.

Author profiles:

Kamlee Coorey CTA
Kamlee is a partner in the Deloitte Corporate and International Tax Group. Kamlee has over 16 years' experience in providing tax advice to a number of Australian and multi-national organisations including consumer business, manufacturing and distribution. Kamlee has extensive experience in providing both inbound and outbound clients with advice around corporate structuring, financing and cash repatriation strategies. She also has significant experience in assisting both listed and unlisted clients with acquisition and divestment due diligence advice and associated tax consolidation, tax-effect accounting and on going taxation issues. Kamlee has been involved in several consolidation projects for her clients, and has significant expertise in the compilation and technical review of consolidation calculations and consolidated tax returns. Current at 08 December 2014 Click here to expand/collapse more articles by Kamlee COOREY.
Andrew Martin CTA
Andrew is a Manager at Deloitte's. Current at 14 December 2012 Click here to expand/collapse more articles by Andrew MARTIN.

This was presented at 2012 Corporate Tax Masterclass.

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