NTLG Consolidation Sub-group

View meeting updates below:

  • NTLG Consolidation Sub-Group meeting

    On 7 May 2013 Tony Stolarek (Ernst & Young), Alexis Kokkinos (Pitchers) and Susan Cantamessa from the Institute participated in a meeting of the NTLG Consolidation Sub-group. Matters discussed at the meeting included:

    • The final ATO view on the four issues raised by the professional bodies on the application rules contained in Tax Laws Amendment (2012 Measures No. 2) Act 2012. Those issues, and the ATO’s preliminary view, are set out in the draft minutes of the Sub-group’s 5 February 2013 meeting published on the ATO’s website. Note that the ATO view in relation to two of those issues has changed. It is proposed that the ATO’s final views be published in a number of taxation determinations which will be available for public consultation in the usual way.
    • Scoping and prioritisation of issues relating to the prospective rules.

    Minutes of the meeting will be published on the ATO website in due course. In the meantime, if you have any questions please email the Tax Group.

  • NTLG Consolidations Subgroup meeting

    On 5 February 2013 Susan Cantamessa (the Institute), Tony Stolarek (E&Y) and Alexis Kokkinos (Pitchers) represented the Institute at a meeting of the NTLG Consolidation Sub-group.

    The meeting was held primarily to discuss the ATO’s preliminary view on a number of issues relating to the application rules in Schedule 3 of Tax Laws Amendment (2012 Measures No 2) Act 2012. Those issues were initially raised by the Institute, The Taxation Institute and the Corporate Tax Association for discussion at the 31 October 2012 meeting the minutes of which are available on the ATO’s website.

    The formal minutes of the 5 February 2013 meeting will be published on the ATO’s website in due course. In the meantime, if you have any questions in relation to matters discussed at the meeting, please email the Tax Group.
  • NTLG Consolidation Sub-group meeting on 13 April 2011

    Tony Stolarek (Ernst & Young), Alexis Kokkinos (Pitcher Partners) and Susan Cantamessa attended the NTLG Consolidation Sub-group meeting on 24 April. Matters discussed at the meeting included:

    • a number of action items from the previous meeting. In particular, members were advised that a draft Decision Impact Statement on the McIntosh decision is expected to be published shortly as will new material for inclusion in the Consolidation Reference Manual regarding Tax Laws Amendment (2010 Measures No. 1) Act (TLAA (No.1) 2010). A draft fact sheet on franking deficits tax in the context of TLAA (N0. 1) 2010 has been updated to reflect members comments and an updated draft would be circulated for final comment by 29 April
    • an Issues Register update
    • new issues lodged by the Institute and The Taxation Institute in relation to the rights to future income and residual tax cost setting rules. Those issues will be added to the Issues Register which is available on the ATO website. The ATO advised that a statement regarding the ATO’s administrative practice pending the Board of Taxation’s review of these rules will be published on its website shortly. The statement will deal with its approach to applications for private binding rulings and objections to assessments in relation to these rules. The ATO also indicated that it has two priority technical issues in relation to these rules which it is working on and which, in broad terms, encompass the issues raised by the joint bodies. Resolution of those issues is not expected in the short term.

    The formal minutes of the meeting will be lodged on the ATO’s website in due course. In the meantime, members requiring more information can contact the Tax Group.