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The Commonwealth Government introduced consolidation to reduce compliance costs for business, remove impediments to the most efficient business structures and improve the integrity of the tax system. Consolidation allows wholly-owned corporate groups to operate as a single entity for income tax purposes from 1 July 2002.

Where a wholly-owned group does not choose to consolidate, the income tax system treats each company in the group as a separate entity. Taxing member entities separately means that each member must separately account for all intra-group transactions and debt and equity interests.

For business, this imposes extra compliance costs and may stand in the way of the most efficient business structure. From the community’s perspective, the previous grouping provisions for wholly-owned groups provided opportunities for tax avoidance through artificial arrangements. To discuss your businesses potential, than contact Maitland Accountants today.

Some Key Points to Consolidation:

  • Consolidation is optional but irrevocable.
  • The consolidated group operates as a single entity for income tax purposes, lodging a single income tax return and then paying a single set of pay as you go (PAYG) instalments.
  • One in, all in – if a group consolidates, all of the head company’s eligible wholly-owned subsidiaries are members.
  • Most small businesses involve single entities and are not affected by the consolidation regime. Consolidation is not relevant to the business activities of individuals


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Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.

The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.

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