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Hi,
I am a bit confused with how to determine the tax base for an asset or a liability to be Nil.
Is this only on non cash items? eg provisions/imp losses
Basically, how do we know an asset will have a tax base ( would that be given in the
exam)Thanks
If there is a tax base it will be given in the exam. You would probably only see it where tax allowances on PPE are different to depreciation.
Otherwise the tax base in normally 0.
What matters is that you can calculate the CA of the relevant asset or liability.
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