Published on 12 Jun 08
by VICTORIAN DIVISION, THE TAX INSTITUTE
This presentation focuses on the long-awaited scrip-for-scrip announcement which has changed substantially from the October 2007 initial proposal of the prior Government. There are a number of very important issues that need to be considered when examining scrip-for-scrip arrangements in the context of this new integrity rule, including:
- the arrangements that are targeted, and the implications of the "net asset" criteria used to identify impacted arrangements;
- how the rules are expected to operate in the case of part cash/part scrip takeovers, creeping acquisitions, and acquisitions involving multi-tiered acquirers;
- the proposed cost base and tax consolidation interactions.
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