Commentary

D7.493 Transition – Deemed accounting date for non-calendar year end companies

Corporate tax
Corporate tax | Commentary

D7.493 Transition – Deemed accounting date for non-calendar year end companies

Corporate tax | Commentary

D7.493 Transition – Deemed accounting date for non-calendar year end companies

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.

Due to the need for a clean break at transition, companies without calendar year ends are deemed to have the end of an accounting period on 31 December 20121. This allows the preparation of the necessary accounts balance sheet and regulatory return entries to calculate the transitional adjustment.

In such circumstances, and solely for the purposes of calculating any transitional adjustment, the company is

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