The statement provides detailed guidance on the tax treatment of losses incurred before an amalgamation by an amalgamating company, an amalgamated company, or another company within the group but not a party to the amalgamation.

According to CA ANZ, the statement will be a valuable resource for understanding the tax implications of losses on amalgamation. The statement’s comprehensive coverage, detailed guidance and numerous examples illustrating the concepts will be immensely helpful for both practitioners and companies navigating the intricacies of tax losses in the context of amalgamations. 

CA ANZ recommends a few changes to further improve the document.