The income tax consequences of closing down a division or a branch of a company
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Title
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The income tax consequences of closing down a division or a branch of a company
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Description
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It is a sign of today's economic realities that divisions and branches of companies are from time to time being closed down. This article investigates the income tax implications of this scenario with regard to the various expenses and costs incurred by the company. Special attention is given to the taxation implications of recurring expenses continuing after the actual close down as well as the aspects affecting trading stock, allowances in respect of capital assets and the position of debtors.
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Creator
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Buys, W.J.
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Vosloo, L.
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Subject
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Bad debts
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Capital allowances
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Capital nature
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Collection costs
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Compromise payment
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Debtors
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Delegation of obligations
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Expenses
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General deduction formula
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Irrecoverable debts
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Lease instalment
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Lump-sum payment
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Maintenance contract
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Production of income
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Retrenchment pay
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Scrapping allowance
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Trade test
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Trading stock
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Unexpired contracts
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Warranties
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Collecting of accounts
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Depreciation allowances
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Interest -- Taxation
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Income tax -- Accounting
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Settlement costs
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Business enterprises -- Taxation
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Publisher
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School of Accounting Sciences, University of Pretoria
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Date
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2011-01-11T06:33:50Z
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2011-01-11T06:33:50Z
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1995
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Type
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Article
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Format
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application/pdf
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Identifier
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Buys, WJ & Vosloo, L 1995, 'The income tax consequences of closing down a division or a branch of a company', Meditari : Accountancy Research, vol. 3, pp. 18-43. [http://www.meditari.org.za]
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1022-2529
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http://hdl.handle.net/2263/15602
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Language
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en
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Rights
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School of Accounting Sciences, University of Pretoria