Australia Publishes Draft Tax Consolidation Measures for Public Comment

On 28 April 2015, the Australian Treasury published an Exposure Draft for public comment on five measures amending the country's tax consolidation regime. The measures include:

• Remove a double benefit (or double detriment) that can arise in respect of certain liabilities held by a joining entity that is acquired by a consolidated group;
• Remove anomalies that arise when an entity joins or leaves a consolidated group where the entity has securitized an asset;
• Prevent the tax costs of a joining…