TaxTMI 
TaxTMI 
If certain club takes deposit repayable after certain no of years & do not charge any fees, what will be direct & indirect tax implications
Club membership deposit
03 Sep 2015 
1 Reply 
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Club membership deposit not taxable as income; refund carries no direct or indirect tax implications under tax law
The adviser concludes that a refundable club membership deposit, repayable after a specified period and not charged as a fee, does not constitute income or revenue; accordingly, repayment of the deposit does not give rise to direct or indirect tax implications. (AI Summary)
The adviser concludes that a refundable club membership deposit, repayable after a specified period and not charged as a fee, does not constitute income or revenue; accordingly, repayment of the deposit does not give rise to direct or indirect tax implications. (AI Summary)