Published on 12 Jan 07
by THE TAX INSTITUTE
A joint professional body submission sent to the ATO in relation to the draft consolidation taxation determination TD 2006/D45 - Income tax: is the 'applicable functional currency' for the head company of a consolidated group determined by looking at the 'accounts' of all the members of the consolidated group, for the purpose of item 1 of subsection 960-60(1) of the Income Tax Assessment Act 1997?
NATIONAL INSTITUTE OF ACCOUNTANTS
TAXATION INSTITUTE OF AUSTRALIA