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M&A transactions: What are the issues; what are the opportunities?

Published on 01 Jun 11 by "THE TAX SPECIALIST" JOURNAL ARTICLE

Merger and acquisition transactions today confront the adviser with more complex issues than ever before. This article covers a range of topical issues concerning M&A transactions which have emerged recently, and those which require re-examination. In particular, the article discusses the difficulties that arise from the interaction between the consolidation fiction and the CGT fiction in "straddle contracts" and trying to provide a proper basis to account for the taxation of rights to future income.

The article examines how the recent legislative amendments made by the Tax Laws Amendment (2010 Measures No 1) Act 2010 operate and whether they achieve the results they were originally set out to provide for in these two areas.

The article then discusses in more detail pre-sale dividends and the Dick Smith case, the tax implications of earnout arrangements, CGT straddle contracts, rights to future income, and debt/equity implications.

Author profile:

David WOOD
David is a Partner in the Melbourne office of Mallesons Stephen Jaques where he advises on all aspects of direct and indirect taxation. David conducts a varied practice which covers all aspects of revenue law. In particular, he advises on the taxation aspects of financing transactions, international taxation matters, capital gains tax, general corporate taxation and the taxation aspects of dealing in intellectual property as well as sales tax, payroll tax and land taxes. David also advises regularly upon the GST and stamp duty aspects of financing and general commercial transactions in both Victoria and other States and Territories of Australia.
Current at 18 December 2007 Current at 18 December 2007 Click here to expand/collapse more articles by David WOOD.
 

 

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