When is Goodwill not Goodwill? The Accounting and Taxation Implications |
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| Authors: | Les Nethercott and Dean Hanlon |
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| Institution: | the Departments of Accounting and Finance and Business Law and Taxation, Monash University, Clayton;the Department of Accounting and Management, La Trobe University, Bundoora |
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| Abstract: | Courts have encountered perplexing questions about the definition and valuation of goodwill which have significant tax implications. This paper compares the treatment of goodwill from accounting and taxation perspectives. It examines two recent Australian court decisions concerned with the concept of goodwill and finds there are still several areas of contention that both cases failed to settle. |
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