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Published on 01 May 09
by NATIONAL DIVISION, THE TAX INSTITUTE
This presentation considers particular financial services issues in dealing with the legislated and unlegislated consolidation measures, including:
what is a retained and reset cost base asset, including the treatment of marketable securities?
what is a liability that is recorded in the accounts, including the treatment of derivatives?
how do you identify all the particular assets and liabilities in financial services groups?
derivative transactions and consolidation, including the transition to TOFA stages 3 & 4
assets with volatile valuations, and the delay between acquiring control and joining time
tax sharing agreement issues with regulated entities
the many consolidation challenges of hybrid instruments.
Tony is a Partner in the Ernst & Young National Tax Group and has been involved with tax consolidation since
its creation emerging from the Ralph RBT. Tony was a member of the Tax Consolidation Joint Design team of Treasury, ATO
and professionals, and remains a member of the NTLG Consolidation Subcommittee and various working groups dealing with
consolidation practice, emerging law and ATO compliance initiatives for consolidating groups. Tony is a member of the ICAA
National Tax Technical Committee and chairs it’s Consolidation Working Group. Current at 9 February 2009
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
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