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  2005

Update on Losses and Blackhole Expenditure

Source: New South Wales

Published Date: 22 Nov 2005

 
The new loss recoupment rules released on 14 September 2005 will significantly affect companies with carry forward tax losses. The legislation follows the release of an Exposure Draft in February and contains amendments that will benefit widely held companies with an improved Continuity of Ownership Test (COT) broadly from 1 July 2002. However, the Same Business Test (SBT) will be limited for companies' losses incurred from 1 July 2005.

The purpose of this seminar was to provide an outline of the changes to the COT and the SBT as well as discussing their affect on Australian companies.

Update on losses and blackhole expenditure

Author(s): Geoff Kirk
Materials from this session:

Details

  • Published On:22 Nov 2005
  • Took place at:Tattersalls Club, Sydney

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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