Tax Consolidation
A fundamental tax change for corporate groups
The Tax Consolidations Regime has fundamentally altered the tax landscape for corporate groups in Australia. The tax treatment of losses, depreciation deductions, cost bases, franking accounts and inter-company transactions, amongst other areas, have all been impacted upon.
You may be assessing whether you should elect to form a consolidated group. Perhaps you have already consolidated for tax purposes, and you are about to enter into a major transaction. Whatever you circumstance, as a corporate group you need to understand the impact of the tax consolidation regime on your ongoing business and its future direction.
William Buck’s tax services experts have the specialist knowledge and experience to help you:
- Decide whether entering the tax consolidations regime is more tax-effective
- Extract the maximum amount of value from your transition into the tax consolidation regime
- Understand how the tax consolidation regime can help your organisation restructure its affairs or pursue a growth policy whilst achieving maximum tax efficiencies.
We can provide advice on what the regime means for your organisation in terms of income tax compliance requirements and responsibilities, as well as its interaction with the new Australian accounting standard equivalent to International Financial Reporting Standards.
Furthermore, we understand that your business is never at a stand still. Whether you plan to restructure, expand or divest, we can provide expert advice on the impact that tax consolidations will have on your commercial plans.
How William Buck can help
William Buck’s tax services professionals can simplify the decision-making process and reduce your tax compliance burdens. We take time to understand your commercial objectives and restraints and focus on producing the best outcome for your particular situation.
William Buck can:
- Undertaking high level reviews to assist in determining whether you should form a consolidated group or remain outside the consolidations regime
- Analyse the impact of tax consolidations of the utilisation of carried forward and current year tax losses, including maximising the rate of utilisation of losses within a consolidated group
- Determine the impact of the ACA process on the tax cost bases of assets and identify and utilise opportunities to maximise the benefits from uplifts in cost bases
- Advise on the implications of proposed restructures and utilising tax consolidations to remove the tax impact of inter-group transaction
- Help plan the sale or purpose of major assets or companies within the tax consolidations environment
- Design and review tax sharing and funding agreements
For more information
To discuss your tax consolidation requirements please contact your local office, or download an information sheet.
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Information sheet Tax Consolidation |
