Commentary

B5.718A Transparent reporting funds

Business tax
Business tax | Commentary

B5.718A Transparent reporting funds

Business tax | Commentary

B5.718A Transparent reporting funds

From 27 May 2011, simplified rules for computing reportable income apply to reporting funds that are fiscally transparent, for example certain unit trusts1. The rules in Chapters 4 to 6 of Part 3 of the 2009 regulations do not apply to such funds2. The funds do not therefore have to prepare accounts or computations of reportable income as outlined in B5.716 and B5.717 and the rules in B5.718 regarding transactions which are not treated as trading transactions do not apply. Instead, such a fund must provide a computation of its reportable income for a period of

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