Published on 23 Apr 09
by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE
This paper covers:
- the single entity rule and what it means for tax reporting
- how the consolidated tax return is prepared
- using your tax losses and available fractions
- what happens when a subsidiary member leaves the group
- how to calculate the Capital Gain or Loss on exit – the “exit ACA”
- potential traps in preparing the exit ACA
- what “clear exit payments” are and how they relate to the TSA
- how parliament’s proposed changes to tax consolidation may impact your clients.
Ray is a Director of Holden & Bolster Avenir Pty Ltd and has been a
Chartered Accountant in practice for over 30 years. He specialises in
providing income tax advice to small and medium enterprises including
both listed and non-listed entities. Since the introduction of the tax
consolidation regime he has been involved with clients in the formation
of tax consolidated groups and their on-going tax compliance issues.
During this time he has also had hands on involvement in the tax
aspects of acquisitions and disposals of subsidiaries and sub-groups
by these clients.
Current at 13 February 2009 Current at 29 April 2009