Deferred tax

This topic has 6 replies, 2 voices, and was last updated 12 years ago by MikeLittle.

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October 24, 2013 at 11:40 am #143549
hasanali95
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A loan receivable has a carrying amount of $1m.The repayment of the loan will have no tax consequences.
So what is the tax base?
October 24, 2013 at 10:50 pm #143619
MikeLittle
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In corporate tax profits or losses on disposal of debt instruments are a part of the company’s NTLR (Non Trading Loan Relationship) assessment which does go through the Corporation Tax computation!
Does that help?
October 24, 2013 at 11:01 pm #143620
hasanali95
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No but at p2 level whats the tax base of it?
October 30, 2013 at 10:28 am #144118
hasanali95
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Sir pls reply
October 30, 2013 at 3:46 pm #144158
MikeLittle
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I don’t think I know! When you have researched it, would you be so kind as to post your findings on this thread and we may all benefit.
Thanks
October 30, 2013 at 4:07 pm #144160
hasanali95
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Sorry i havent researched.I was depending on an answer from u
December 1, 2013 at 3:26 pm #148869
MikeLittle
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If, as your original post states, there will be no tax consequences – “repayment of the loan will have no tax consequences” then the tax base must be the same as the carrying value for the purposes of deferred tax
OK?
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