Tax Consolidation – Exit ACA

Description

Correctly calculating the exit allocable cost amount (ACA) and determining accurate tax costs for membership interests when a member leaves the consolidated group is important for capital gains tax purposes.

Whether your clients are large corporates or family businesses, transactions and restructures occur that result in the need to calculate the tax cost of membership interests under the allocable cost amount (ACA) exit process. Oversights in the process result in errors that may give rise to a risk of amended assessments or errors that understate tax base and therefore overstate resulting capital gains.

We will discuss the exit ACA process as we work through the practical application of the calculation steps with a focus on:

  • accessing the terminating value of underlying assets (step 1)
  • changes to the law, particularly for deferred tax liabilities (step 4)
  • adjusting for deductible liabilities (step 4)
  • potential capital gains arising from the calculation itself (event L5)

Webinar Learning Outcomes:

  • Refresh of key concepts relevant to the exit ACA process
  • Confirmation and awareness of changes to the law
  • Awareness of common errors in calculations
  • Practical tips for calculating the exit ACA

Suited to:
Firms of all sizes will benefit from this session. As well as advisors with limited exit 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.

Presenter Bio:
Paul Mills worked in the corporate tax practice at PwC for over 20 years, advising clients on a range of transactions. Paul was responsible for PwC’s national tax technical education program for 6 years up to 2018. He now runs his own tax advisory business, as well as operating the tax practice of Keystone Private Advisory.

You will be provided with:
PowerPoint Presentation slide deck
Any Supporting Documentation
Webinar Recording to view multiple times for up to 6 months
Q&A Session and contact details for follow up

  • Jul 28
    Tue, 1:00 PM AEST - 2:30 PM AEST Online
    • $220.00 incl. GST
    • PD hours: 1.5

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One-Connection-One-Fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

Like the topic but can’t make the time? Register for the Live Session and you’ll receive the Recording regardless! You can watch it as many times as you like for up to 6 months. You will also receive Supporting Documentation.