Review of tax consolidation rules

On 11 September 2012, the Board of Taxation released for comment a Discussion Paper on post-implementation review of the consolidation tax cost setting rules, in particular, the tax treatment of liabilities, the capping of the tax cost setting amount of assets of entities joining a tax consolidation group and the treatment of deferred tax liabilities. The closing date for submissions in respect of the Discussion Paper is 12 October 2012.