After years of significant economic growth and prosperity, the commercial world may be facing tougher times ahead. As losses become a reality for many, taxpayers need to manage their affairs to ensure that those losses are available for future recoupment. This session focuses in particular on the two threshold tests for recouping prior period tax losses, namely: the continuity of ownership test and the same business test. This paper covers:
- recapping the basic tests
- the "new" Division 166 concessions
- SBT in a tax consolidated group.