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The ATO’s commercial deal offering – worth considering?
The ATO’s commercial deals program is seeking to provide certainty on the tax consequences of a proposed transaction before it is entered into.
The Australian Taxation Office (ATO) has notified taxpayers that, to assist in increasing certainty on tax outcomes, it can be approached for an opinion prior to the taxpayer committing to a commercial deal. The offer is targeted at privately owned and wealthy groups.Commercial dealsThe ATO defines a commercial deal as any significant business transaction that has the potential to impact the structure of the business. A non-exhaustive list of examples given by the ATO includes the following:D...
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Authors: Richard Wilkins
Published Date: 09 September 2019
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