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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:

Author Photo - Tony STOLAREK
Tony STOLAREK
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
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:



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