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Consolidation

On 4 December 2003, The Minister for Revenue and Assistant Treasurer announced a number of measures to provide greater flexibility for groups as they move into the new consolidation regime. As the new consolidation regime has changed the taxation landscape for most corporate groups, the Government has continued its active consultation with business on the implementation of the new regime. Arising from these consultations has been a call for further clarification and greater certainty.

The Minister for Revenue and Assistant Treasurer, Senator Helen Coonan said that the Government had listened to and heard the concerns of business and today announces further measures to give taxpayers greater flexibility and to assist them even further when moving into the consolidation regime.

A copy of the Assistant Treasurer's press release is available at http://assistant.treasurer.gov.au.

For questions and queries please e-mail: consolidation@treasury.gov.au or phone Martin Jacobs (Treasury) (02) 6263 3208

The Department of the Treasury is making available electronically the refinements to the consolidation regime.

Please refer to the list below to download these documents.

Results 1 to 31 of 31
04-12-2003 00. Consolidation Papers 1-30 - Complete PDF Download
04-12-2003 01. Allow Certain Irrevocable Elections to be Revoked
04-12-2003 02. Clarifying Beneficial Ownership for Consolidation Membership Purposes
04-12-2003 03. Treatment of Finance Leases Under the Cost Setting Rules
04-12-2003 04. Cost Setting Rules for Partners and Partnerships Leaving a Consolidated Group
04-12-2003 05. Ensuring that Allocable Cost Amount is Allowed to Intra-Group Assets
04-12-2003 06. Treatment of Deferred Acquisition Payments
04-12-2003 07. Treatment of Allowable Capital & Transport Capital Expenditure, Exploration, Prospecting Assets
04-12-2003 08. Ensuring that an Appropriate Value is used for Liabilities
04-12-2003 09. Treatment of Foreign Losses of a Partnership
04-12-2003 10. Notice Requirements under the Inter-Entity Loss Provisions
04-12-2003 11. Multiple Entry Consolidated Group & Section 701-1 of the Income Tax (Transitional Provision) Act
04-12-2003 12. Refinements to the Foreign Dividend Account Provisions
04-12-2003 13. Refinements to the Foreign Tax Credit Provisions
04-12-2003 14. Application of Irrevocable Election: Interest in Foreign Investment Funds that are Trading Stock
04-12-2003 15. Transferring Attribution Account Surpluses to Provisional Head Companies
04-12-2003 16. Interaction Between Consolidation and Bad Debt Rules
04-12-2003 17. Amendment to Ensure the 3-Year Continuity of Ownership Test Concession Extends to Foreign Losses
04-12-2003 18. General Insurance Companies
04-12-2003 19. Research & Development Tax Offset - Consolidation Interactions
04-12-2003 20. Privatised Assets in the Consolidation Regime
04-12-2003 21. Life Insurance Companies
04-12-2003 22. Uniform Treatment for Irrevocable Elections that Apply on an Entity-wide Basis
04-12-2003 23. Adjusting for Changes in Deferred Tax Liabilities in Working Out the Allocable Cost Amount
04-12-2003 24. Treatment of Distributions in the Cost Allocated Process - Last-in-First-out (LIFO)
04-12-2003 25. Collection and Recovery Rules
04-12-2003 26. Capital Gains Tax: CGT Event L7
04-12-2003 27. Adjustment to the Cost Base of Partnership Cost Setting Interests in Certain Depreciating Assets
04-12-2003 28. The Application of Cost Setting and Inherited History Rules on Certain Capital Allowances
04-12-2003 29. Adjustments to Step 3 of the Allocable Cost Amount Calculation for Pre-Acquisition Losses
04-12-2003 30. Minor Technical Amendments

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