Areas of focus – financial products Australian Taxation
Actived: Just Now
Accruals method Australian Taxation Office
On 1 July 2014, the loan is impaired for accounting purposes. Chris Co does not write the debt off as bad, but now only expects to receive $8,748 on 30 June 2017. Chris Co's freshly determined loss is $1,252 ($10,000 – $8,748). Following the impairment, Chris Co must reassess whether the accruals method will continue to apply to the arrangement.
GSTR 2003/5 Legal database
Example 38: 'money-off coupon' 185. To promote a new product line, a manufacturer distributes money-off coupons through the press. They entitle the holder to $5 off the price of a range of items. These are not vouchers within the meaning in section 100-25 as they do not entitle the holder to a supply.
The rest of the form of debenture was given up to interest and provided that interest coupons might be presented at any of the same four places but required that the place where "the purchaser," as he was called, wished interest to be paid should be endorsed on the debenture when issued and that any change should be registered at the Treasury
PR 2011/19 Legal database
Section 8-1 and Division 247. 31. Interest paid on a borrowing used to acquire income producing assets, such as units in a unit trust, is generally treated as deductible under section 8-1 where it is expected that assessable income would be derived from the investment (see Taxation Ruling TR 95/33 which relates to subsection 51(1) of the ITAA 1936 which was the predecessor of section 8-1 of