Government Announcements
Certain aspects of the consolidation regime
03.06.2009
The Board will also undertake a post implementation review of certain aspects of the consolidation regime, namely:
- the operation of the single entity rule;
- the interaction between the consolidation provisions and other parts of the income tax law; and
- the operation of the entry history rule in acquisition cases.
The Assistant Treasurer pointed out that the consolidation regime was enacted in four major stages during 2002 and 2003 and that a number of refinements have been made to the regime since then. He said that it is timely to take stock of whether the law is achieving the objectives of promoting business efficiency, improving the integrity of the Australian tax system and reducing ongoing income tax compliance costs.
For the text of the Assistant Treasurer’s media release, click here.
