Question
The assets of a company which provides natural gas to business customers and is joining a tax consolidated group include consumables, unbilled work in progress
The assets of a company which provides natural gas to business customers and is joining a tax consolidated group include consumables, unbilled work in progress for gas connection services already provided, unbilled gas already supplied, valuable long-term gas supply contracts, knowhow, plant, and purchased and internally generated goodwill. How is ACA allocated to these assets and what is the tax effect for the head company of the consolidated group of any ACA allocated to such assets if the company joins the group today?
TipOnly applicable to Australian tax law
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