Market value for small business retirement exemption
The need for a small business retirement exemption Peloton is frequently invited to assist tax advisers and lawyers when a small business owner contemplates a sale of the business – prompting consideration of the small business retirement exemptions in the Income Tax...
Acquisition reporting (AASB3 business combinations)
The need for acquisition reporting An unlisted public company involved in the fast-moving consumer goods industry acquired a strategically-significant company and required a purchase price allocation to comply with AASB3 Business Combinations. The acquired company had...
Valuation for impairment testing (AASB136)
The need for valuation impairment testing Purchased goodwill reflected on the balance sheet of an ASX company is required by AASB136 to be recorded at an amount which is no more than recoverable amount. The goodwill of each Cash Generating Unit [“CGU”] must be...