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Tax consolidation – Financial services presentation

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.

Author profile:

Anthony Stolarek CTA
Tony engages with Australia's federal and state governments, Treasury and Taxation Office on tax policy and tax administration, through the EY Australia Tax Centre for Excellence. In his EY role and membership of the Institute of Chartered Accountants in Australia tax technical committee, he is heavily involved in submissions to government and the ATO on policy proposals, changes in the tax system and improving its administration and interpretation. Tony is an ICAA representative on the ATO National Tax Liaison Committee and various subcommittees and a member of the Law Council of Australia Business Law tax committee. He is also involved in the EY global Tax Policy Services network which has had significant focus on Base Erosion and Profit shifting in the last year. Tony is a member of the Treasury Special Reference Group relating to its scoping paper dealing with the Risks to Sustainability of the Corporate Tax Base. Current at 14 August 2013 Click here to expand/collapse more articles by Tony STOLAREK.
 

This was presented at 4th National Consolidation Symposium.

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

Individual sessions

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

Author(s):  Des MALONEY,  Peter WALMSLEY

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:


Tax consolidation – Financial services

Author(s):  Tony STOLAREK

Materials from this session:



Further details about this event:

 

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