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  2009

Preserving Losses and Claiming Bad Debt Deductions

Source: South Australia

Published Date: 8 Jul 2009

 
In the current economic environment tax losses and capital losses will again come to the forefront of tax issues.

This event highlighted the operation of the various rules that can deny deductions for prior year losses and bad debts. It outlined practical issues for your clients and case studies considering:

  • do tax losses have any value in an entity acquisition?
  • the 'continuity of ownership' test for public and private companies
  • the 'same business test' for companies
  • the various trust loss rules
  • claiming bad debt deductions
  • how to document the results of these tests
  • recent developments in this area, including ATO approaches and case law.
Note: This event included repeats of some materials from the event Everything There is to Know About Company Losses and Tax held on 27 May 2009 in Victoria, namely:
  • The continuity of ownership test under Division 165 (paper by Andrew Van Dinter ATIA and Brian Lane)
  • Everything there is to know about company losses and tax (presentation by Andrew Van Dinter ATIA)
  • The same business test under Division 165 (paper by Brian Lane and Andrew Woollard FTIA)
  • Same business test (presentation by Andrew Woollard FTIA).

Trust loss & deduction rules

Author(s): Connie Sanchez , Sean Van Der Linden CTA
Materials from this session:

Details

  • Published On:8 Jul 2009
  • Took place at:Holiday Inn, Adelaide

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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2009

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