This presentation covers:
- significant developments in Tax Consolidation in 2010
- most would expect “old issues” have been ironed out
- most significant changes relate to the tax cost setting rules
- Section 701-90 – separate asset rule (introduced by Senate)
- Section 716-410 – rights to future income asset rule
- Section 701-55(6) – “other asset” rule
- amendments go all the way back to 1 July 2002
- only 2 year amendment period if out of time
- operation of these provisions are uncertain at this time.