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Tax consolidation rules following certain CGT roll-overs


Tuesday, 22 January 2008

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In Media Release No. 1 of 2008, the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs has asked the Treasury to consult with the private sector in relation to one of the previous Government's announcements. The announcement concerns modification of the consolidation tax cost setting rules when an entity joins a consolidated group or multiple entry consolidated group following a CGT roll-over affecting the membership interests of the joining entity. The consultation process is to focus on ensuring non-contrived commercial takeovers involving an exchange of scrip are not affected by the changes.

Interested parties are invited to lodge submissions on how the proposal could be modified so that it targets arrangements other than non-contrived commercial takeovers involving an exchange of scrip. While submissions may be lodged electronically, by post or facsimile, electronic lodgement is preferred.

Submissions closing date: 6 February 2008

Address written submissions to:

The Manager
Company Tax Unit
Business Tax Division
The Treasury
Langton Crescent

Fax: 02 6263 4466

Email: consolidation@treasury.gov.au

Submissions will be made available to the public on the Treasury website unless you would like your comments to remain in confidence.

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