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Tax consolidation – Financial services presentation


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 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
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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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