Policy paper

Taxation of corporate debt and derivative contracts amendments to the change of accounting practice Regulations 2004

This Tax Information and Impact Note amends the operation of the change of accounting practice regulations.

Documents

Details

The measure amends the operation of the change of accounting practice Regulations. This preserves the treatment of certain debt following a change in accounting practice where there has previously been a corporate rescue.

Legislation for this measure has been published at The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations 2014

This measure supports the Government’s objective of establishing a simpler, more certain and more robust tax system. This measure looks to ease the impact of accountancy changes that become mandatory for many companies from 1 January 2015.

Published 7 August 2014
Last updated 23 December 2014 + show all updates
  1. Legislation for this measure has now been published and a link to the legislation provided
  2. First published.