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Cash basis persons rules – Are you aware of these changes?

Posted by Vivian Cheng, on July 22, 2009

The Taxation (Business Tax Measures) Act 2009 (enacted on 30 March) introduced a couple of fairly major changes to the cash basis person rules, which have gone relatively unnoticed by practitioners.  The Act was enacted ostensibly to provide a suite of tax relief measures for small to medium enterprises but carries both good and bad news in the cash basis persons sphere.

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"Look through companies" "loss limitation rule" "LTC" Abolition Associated Persons Avoidance Beneficiary income Budget capital gains tax CGT Charities Company Tax Competitions complex constructive trust Council Rates Daniel Hunt Deductions Definitions disputes
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