19. Consolidation

Joshua Easton Tax

CONSOLIDATION – TAXING WHOLLY OWNED GROUPS AS SINGLE ENTITIES The income taxation of consolidated and MEC (Multiple Entry Consolidated) groups has been in force since 1 July 2002. Eligible companies, partnerships and trusts that are wholly owned are taxed as if they are part of a single head company.Many small businesses use simple structures (a single company, partnership or trust) ...

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