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Where are the cost setting rules in 2009 paper?

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Published on 01 May 09 by NATIONAL DIVISION, THE TAX INSTITUTE

The asset cost setting rules are the core of consolidation but there are surprises in their application. This paper reviews the fundamentals of the process with a focus on refreshing understanding and addressing issues that arise in practice including:

  • asset identification and allocation
  • goodwill and the accounting interface
  • what is a retained cost base asset?
  • revisiting previous settings
  • setting values on exit
  • emerging issues.

Author profiles

Michael Charles ATI
Michael is a Principal at Deloitte Lawyers. He has over thirty years' experience in tax, and he has worked in the ATO and commerce. He has advised multi-national, private and high wealth individuals on their taxation matters, in particular on structured transactions and business restructures, as well as ATO audits. For a number of years he has taught tax consolidation and merger and acquisition subjects in the Melbourne University Masters' program. Michael frequently presents to professional and specialist bodies on a wide range of tax issues and is co-chair of the Tax Institute's Professional Development Committee (Victoria) and Victorian State Council. - Current at 09 September 2015
Click here to expand/collapse more articles by Michael CHARLES.
Geoffrey Yiu ATI
Geoffrey Yiu, ATI, is a Partner at KPMG with over 18 years experience providing income tax advice to companies in the financial services sector. Geoffrey leads KPMG’s Banking and Finance tax practice and has recently returned to Sydney, after secondments to Melbourne and Adelaide. - Current at 02 November 2018
Click here to expand/collapse more articles by Geoffrey YIU.

 

This was presented at 4th National Consolidation Symposium .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Consolidations and accounting – Traps and opportunities

Author(s):  Ronen VEXLER,  David ROMANS,  Belinda HARRISON

Materials from this session:

ATO perspective on consolidation - Unravelling the mysteries of the single entity rule

Author(s):  Des MALONEY,  Peter WALMSLEY

Materials from this session:

TOFA and tax consolidation

Author(s):  Julian HUMPHREY,  Mark POOLE

Materials from this session:

M&A and consolidation: New restructure rules

Author(s):  Richard HENDRIKS

Materials from this session:

Consolidation: Bringing it all together in 2009

Author(s):  Richard CZERWIK,  Brian LANE

Materials from this session:

Consolidation: Legislative changes (Part A) – ACA related amendments

Author(s):  Ken SPENCE

Materials from this session:

Where are the cost setting rules in 2009?

Author(s):  Michael CHARLES,  Geoffrey YIU

Materials from this session:

Consolidation: Legislative changes (Part B)

Author(s):  Peter MURRAY

Materials from this session:

Consolidation and mining assets – Some selected acquisition issues checklist

Author(s):  Cameron RIDER

Materials from this session:

Less than the sum of the parts: Tax losses of consolidated groups

Author(s):  Duncan R C BAXTER

Materials from this session:

Tax consolidation – Financial services

Author(s):  Tony STOLAREK

Materials from this session:

Consolidation: Leaving – The sting in the tail

Author(s):  Hayden BENTLEY

Materials from this session:

Consolidation in the Courts

Author(s):  Michael FLYNN

Materials from this session:

Further details about this event:

 

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