Jul

Latent Gains Impact On Finance Cost Tax Credits + CGT At Incorporation Of Property Rental Businesses

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Latent Gains occur when the total liabilities of a property rental business exceed the total acquisition costs of the business, also known as ‘Base Costs’ for CGT calculation purposes.

This is why it is so important for Accountants of property rental business owners to maintain an accurate balance sheet in addition to profit and loss accounting and filing tax returns.

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