Corporate Tax B (LAWS70008)

This advanced corporate tax subject provides an in-depth analysis of the tax rules for Australia‘s largest public and private consolidated corporate groups, and the rules for use of losses by companies and corporate groups. It includes detailed discussion of the latest reforms in these highly technical areas of corporate tax practice, in light of tax policy applicable to companies and consolidated groups operating in Australia today. This subject is co-taught by experienced lecturers who combine academic and practitioner experience to deliver this advanced and commercially essential subject.

Principal topics include:

• The rules for membership and formation of a consolidated group in Part 3-90 of the Income Tax Assessment Act 1997 (Cth)
• Operation of a consolidated group through normal trading operations, including the single entity rule, treatment of assets and liabilities, tax payment obligations, tax-sharing agreements and the company shareholder imputation system for consolidated groups
• Tax cost setting on joining and leaving of subsidiary members of a consolidated group, including group-to-group transactions
• Tax rules for multiple entry groups owned by foreign investors in Australia
• The interaction of consolidated group tax rules with other tax rules
• Tax rules for losses in companies and consolidated groups, including loss integrity rules, in Divisions 165 and 166 of the Income Tax Assessment Act 1997 (Cth).