Merger of non-profit organisations exempt from accreted-income tax if same or similar objects and prescribed conditions are met. A new provision exempts registered non-profit organisations from accreted-income tax on merger when the transferee and transferor are registered ... Summary
Merger of non-profit organisations exempt from accreted-income tax if same or similar objects and prescribed conditions are met.
A new provision exempts registered non-profit organisations from accreted-income tax on merger when the transferee and transferor are registered non-profit organisations with the same or similar objects and the merger meets prescribed conditions; the merger-liability rule is amended to make tax payable where the merging entity is non-registered, where a registered non-profit's merger fails to satisfy prescribed conditions despite similar objects, or where objects are not the same or similar.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
