Source: The Tax Specialist Journal Article
Published Date: 1 Jun 2016
Reform of the tax consolidation regime has stagnated over the last few years. A broad review was to be undertaken in 2015, but little was done apart from preliminary discussions and compilation of lists. The most recently announced changes of significance, relating to deductible liabilities, securitised assets and anti-churning where companies are transferred from non-residents, still await amending legislation after more than three years. The 2016-17 federal Budget added further refinements to those previously announced proposals.
This article examines the current state of the announced changes, and what they should look like when eventually introduced. The article
also looks back at the long list of outstanding announcements, identified issues and areas for improvement of the tax consolidation rules. The hope is expressed that an incoming government will re-prioritise the broad tax consolidation review, in line with clear policy objectives.
More by Wayne Plummer
Tax consolidation update - still grappling' - Presentation 02 Jun 2016
Tax consolidation update - Still grappling with these rules? - Paper 02 Jun 2016
Tax consolidation - The state of play - Paper 14 Oct 2015
What still remains unresolved in tax consolidation? - Presentation 10 Sep 2013
Can we frank that dividend? - Paper 30 Oct 2012
Can we frank that dividend? - Presentation 30 Oct 2012
Impact for entities joining before 31 March 2011 - Presentation 16 Jan 2012
Impact for entities joining before 31 March 2011 - Video 12 Dec 2011
Losses - Presentation 19 May 2011
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