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Foreign corporate amalgamations and mergers – selected Australian income tax issues
Published on 01 Jun 23 by "THE TAX SPECIALIST" JOURNAL ARTICLE
As noted by the Board of Taxation in 2003 (see footnote 2), corporations laws overseas allow forms of corporate reorganisations that are not possible in Australia. These reorganisations present challenging Australian tax technical issues when there is a sufficient connection between the reorganising corporates and Australia. In this article, the relevance of foreign law to the application of Australian income tax to such corporate reorganisations is discussed, and selected Australian income tax issues
are considered in relation to New Zealand and Canadian corporate amalgamations, EU member corporate mergers and Indian corporate amalgamations. Further, some policy issues relating to apparent defects in Australian income tax provisions in relation to foreign amalgamations and mergers are also discussed. Finally, the author renews the Board of Taxation’s call in 2003 for the ATO to urgently provide some public guidance on the Australian income tax consequences of selected foreign corporate amalgamations and mergers.
Author profile
Paul O'Donnell CTA
Paul is a partner at Blake Dawson Waldron. He is an experienced tax practitioner with particular expertise in income tax consulting mainly in the area of structured, asset and project financing. He also has significant experience in advising on the corporate tax affairs of Australian and foreign owned banking groups. - Current at 20 June 2007
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