Tax Consolidation – Transfer and use of Tax Losses
Correctly calculating the rate at which tax losses can be used in a consolidated environment is important for calculating taxable income.
Feb 12Tue 1:00 PM AEDT - Tue 2:30 PM AEDT Online
- $220.00 incl. GST
- PD hours: 1.5
Determining if tax losses can be transferred to a consolidated group is an important first step when dealing with losses in a consolidated environment. The rate at which transferred losses can be used, as determined by the “available fraction”, becomes important for modelling tax payable and correctly calculating taxable income.
We will review the required tests to determine if losses can be transferred, and apply the available fraction calculation to practical examples, highlighting common errors in the process that can give rise to incorrect calculations and expose taxpayers to amended assessments, penalties and interest.
Webinar Learning Outcomes:
- Review the tests to be met in order to transfer losses
- Understand the future application of loss tests to transferred losses
- Review the available fraction calculation and adjustments when certain events occur
- Practical application of calculations to a given fact pattern
- All corporates operating in a consolidated environment
- Firms of all sizes will benefit from the session
- Advisors with limited experience in applying the consolidated loss rules will benefit from an overview of the relevant calculations/tests, 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 ln responsible for PwC’s national tax technical education program. He is now commencing his own tax advisory business.
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
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