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Tax consolidations for corporate groups–“Getting on board” paper

Published on 28 Nov 08 by TASMANIAN DIVISION, THE TAX INSTITUTE

While the tax consolidation regime for corporate groups has now been operating for over 6 years, a large number of privately owned groups and their advisors are not totally familiar with how the regime operates in practice.

This paper provides practical direction as to the tax implications of a group electing to consolidate, and how to undertake the associated ‘entry' and ‘exit' calculations.

This paper covers:

  • determining what entities are eligible to join a consolidated group
  • determining how to reset the tax value of assets of an entity that joins a consolidated group
  • reviewing the implications of consolidations on tax losses
  • the implications in respect of pre-CGT intra-group shareholdings and underlying assets
  • addressing the implications when an entity leaves a consolidated group, and
  • key due diligence points relating to the acquisition of companies
  • examples.

Author profiles:

Author Photo - Ken SPENCE
Ken SPENCE
Current at 21 May 2009 Click here to expand/collapse more articles by Ken SPENCE.
 
Narelle MCBRIDE
Current at 21 May 2009 Click here to expand/collapse more articles by Narelle MCBRIDE.

 

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