Employment income

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August 12, 2019 at 9:12 pm #527289

lila88
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Hello tutor 🙂
I was reading accountancy’s tax note and had a little confusion in calculating employment income. It says follow the earlier tax year between when person entitled to and when the payment is actually made.
In bpp revision kit, however, I have read the description that “reciept basis applies to employment income”.
Which one is correct?

August 15, 2019 at 11:32 am #527711

Tax Tutor
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Both are correct – have you studied the OT notes and lectures? – see OT notes Chapter 9, Section 3.1, page 54 where the receipts basis is actually defined for this purpose
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