Per IAS12.7, if the economic benefits of an asset are not taxable in the future (e.g. cash in the bank or trade receivables, because it has already been taxed), then the tax base is equal to the carrying amount. That's why there is no temporary difference.
Hi. Your videos are the best I have seen hitherto!! Please do keep up the good work!!! Also, could you explain the difference between Unbilled and Unearned Revenue?
Can you think of an example of when income received in advance will be taxable in the future (in other words, not taxed upon receipt by the Tax authority)?
Hi Geoff. This is obviously dependent on the tax rules in a given jurisdiction. Most countries however tax income on the earlier of receipt or accrual. Good luck with your studies and stay subscribed to our channel for more videos.
wow! After struggling for a month I realize the value of this lecture. Many thanks :)
Very helpful explanation. How about deferred income (for govt grant) would the same treatment applied? Thankx
really appreciate the time you take to explain things so that students like us can easily understand the concepts. Hats off!
+Adnan Rafiq Thank you for your comment. We are please you found benefit from these videos. Good luck with your studies.
Thank you very much Richard, I have grasp so much from those basics.
Instablaster.
This was actually a bit complicated for me but you have really made it simple... Thank you! Thumbs up!!!!
+Phillip Mokhene Thank you for your comments - we are glad you find benefit from these videos
if 5k divident receivable are not taxable why taxe base is 5k?
Per IAS12.7, if the economic benefits of an asset are not taxable in the future (e.g. cash in the bank or trade receivables, because it has already been taxed), then the tax base is equal to the carrying amount. That's why there is no temporary difference.
Thank you so much.now i got clarity
Hi. Your videos are the best I have seen hitherto!! Please do keep up the good work!!! Also, could you explain the difference between Unbilled and Unearned Revenue?
Can you think of an example of when income received in advance will be taxable in the future (in other words, not taxed upon receipt by the Tax authority)?
Hi Geoff. This is obviously dependent on the tax rules in a given jurisdiction. Most countries however tax income on the earlier of receipt or accrual. Good luck with your studies and stay subscribed to our channel for more videos.
SARS taxes on the earlier of accrual or receipt so I don't think there is any. atleast not in SA
Thanks from Australia.
The example is really useful, thank you!
+Qin Li Thank you for your comment. Glad to be a help to you . Good luck with your studies.
Thank you so much...Its really helpfull
Thanks, very helpful.
Wow thank you so much,you have calmed my nerves
Thanks from india 😊
Thanks from India....
excellent job, hats off to you, but what is meant by tabaldi
Thank you for your comment. Stay tuned to Tabaldi for more.
thank u so muchhhhh
Genius
thank you so much. you advice really helped
Thank you for your comment - glad these videos helped you and best wishes for your future studies. The Tabaldi Team
great! thanks aloooooot
Thank you zee princess - glad to have helped.
Thank you so much!
Thank you for your comment. Stay tuned to Tabaldi for more.
Tanx a lot !!!!
Thank you for your comment. Stay tuned to Tabaldi for more.
thanks from new zealand
Thanks for the comment. We appreciate the positive feedback.
The Tabaldi Team