Tax Consolidation (Entry ACA) – Resetting the tax cost of assets
Calculating the entry ACA and determining accurate tax costs for assets.
Stream this recording multiple times at your convenience.
- $220.00 incl. GST
- PD hours: 1.5
This webinar follows on with Part 2 Tax Consolidation (Exit ACA) – Resetting the tax cost of membership interests.
Whether your clients are large corporates or family businesses, transactions and restructures occur that result in the need to reset the tax cost of assets under the allocable cost amount (ACA) entry process. Oversights in the process result in errors that may give rise to a risk of amended assessments or errors that understate valuable tax bases in assets.
We will discuss common errors in the entry ACA process as we work through the practical application of the calculation steps with a focus on:
- changes to the law, particularly around liabilities (step 2)
- practical difficulties of determining taxed, retained earnings (step 3)
- determining the benefits of cancelling losses (step 6 impact)
- spreading the ACA to reset cost base assets – market values and caps
Webinar Learning Outcomes:
- Refresh of key concepts relevant to the entry ACA process
- Confirmation and awareness of changes to the law
- Awareness of common errors in calculations
- Practical tips for calculating and spreading the ACA
- Firms of all sizes will benefit from this session
- Advisors with limited entry ACA experience will benefit from the overview of the process, whilst those with intermediate levels of experience will benefit from the refresher and practical tips
Paul Mills has worked in the corporate tax practice at PwC for over 20 years, advising clients on a range of transactions.
For the past seven years, Paul has been responsible for PwC’s national tax technical education program.
You will be provided with:
• PowerPoint presentation slide deck
• Any Supporting documentation
• Webinar Recording to view multiple times for up to 6 months
• An opportunity to ask questions to the presenter