Tax consolidation amendments - 18 further pieces of the jigsaw released

Today the Assistant Treasurer released in exposure draft form proposed legislative amendments dealing with 18 tax consolidation issues which had been foreshadowed in announcements going back as far as 1 December 2005. A further 6 issues remain under review.  These proposed amendments will impact on group ‘formation’ calculations and corporate acquisitions and disposals by consolidated groups. Many are also currently stated as having application back to 1 July 2002, with associated amendments being made to extend the normal 4 year amendment period.   For our overview comments click here and for our detailed commentary click here.