Tax consolidation fundamentals
Issued by
The Tax Institute
The earner has demonstrated an understanding of some of the fundamental issues surrounding the income tax consolidation regime in Australia. Earners determine the eligibility of tax entities to form a tax consolidated group, apply the single entity rule, apply the tax cost setting rules when an entity joins and leaves a tax consolidated group and determine whether income tax losses of a joining entity can be utilised by a head company, in non-complex scenarios.
- Time Hours
- Cost Paid
Skills
- Allocable Cost Amount
- CGT Events
- Franking Accounts
- Income Tax Offsets
- Single Entity Rule
- Tax Choices and Elections
- Tax Consolidated Groups
- Tax Consolidations Fundamentals
- Tax Losses
Earning Criteria
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Determine the eligibility of tax entities to form a tax consolidated group in non-complex scenarios.
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Apply the single entity rule to explain the taxation consequences to entities in a simple tax consolidated group.
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Apply the tax cost setting rules when an entity joins and leaves a tax consolidated group in non-complex scenarios.
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Determine whether income tax losses of a joining entity can be utilised by a head company in non-complex situation.
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Earners complete 10 hours of online, self-paced, interactive learning, incorporating interactive examples, knowledge checks, case studies and a comprehensive activity.
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Successful completion of an online, multiple choice assessment.