Financial statements
Section B: Notes to the Group financial statements for the year ended 30 June 2024
Section B: Notes to the Group financial statements for the year ended 30 June 2024
B6 Income tax (continued) Tax consolidation legislation The Transurban Group adopted the Australian tax consolidation legislation across its Australian entities from 1 July 2005. All entities within the Australian tax consolidated groups continue to account for their own current and deferred tax amounts. These tax amounts are measured as if each entity in the tax consolidation group is a separate taxpayer within the tax consolidated group. The tax consolidated groups within the Group are summarised as follows:
1. Entity is classified as a partnership for tax purposes. 2. There are no tax consolidated groups under THT.
3. TC is treated as a partnership for US tax purposes and owns all of the membership interests in both 495 Express Lanes and 95 Express Lanes. Taxable income and losses of TC, inclusive of 495 Express Lanes and 95 Express Lanes, flow to the partners of TC for inclusion in their respective US tax returns. The DRIVe and TUSAH tax groups collectively own 50% of the membership interests in TC. 4. AM Partners is treated as a partnership for US tax purposes. Taxable income and losses of AM Partners flow to the partners of AM Partners for inclusion in their respective US tax returns. The TUSAH tax consolidated group own 60% of the membership interests in AM Partners. 5. Skawanoti Holdings Limited Partnership (LP) is treated as a partnership for Canadian tax purposes and owns all of the membership interests in Concession A25 LP. Taxable income and losses of Skawanoti LP flow to the partners of Skawanoti LP for inclusion in their respective Canadian tax returns. Transurban Cardinal Holdings Ltd owns 50% of the membership interests in Skawanoti LP.
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