Commentary

D7.460 Ordinary BLAGAB management expenses

Corporate tax
Corporate tax | Commentary

D7.460 Ordinary BLAGAB management expenses

Corporate tax | Commentary

D7.460 Ordinary BLAGAB management expenses

The rules in this division apply for accounting periods beginning on or after 1 January 2013. For accounting periods beginning before 1 January 2013 see Division D7.5.

Step 1 of the calculation of adjusted BLAGAB management expenses requires that the calculation begins with the ordinary BLAGAB management expenses for the accounting period.

In order to qualify as ordinary BLAGAB management expenses, amounts must be:

  1.  

    (a)     debited in the company's accounts prepared in accordance with generally accepted accounting practice for the period in question

  2.  

    (b)     expenses of the company's long-term business referable to BLAGAB under its commercial allocation methodology (see D7.432), and

  3.  

    (c)     must not

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