Single assessment for unincorporated bodies ensures one annual tax assessment despite membership or share changes, excluding death or full retirement. The Assessing Officer must make a single assessment for the entire financial year when an unincorporated body's constitution changes due to participants ... Summary
Single assessment for unincorporated bodies ensures one annual tax assessment despite membership or share changes, excluding death or full retirement.
The Assessing Officer must make a single assessment for the entire financial year when an unincorporated body's constitution changes due to participants ceasing, new participants being admitted, or changes in participants' shares; this single-assessment mechanism is inapplicable where the change results from a participant's death or from the retirement of all participants.
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