Document ID: chunk:federal_register_of_legislation:F2023C00930:reg:5
Version: federal_register_of_legislation:F2023C00930
Segment Type: reg
Provision Reference: reg 5
Character Range: 14766–15885

5                                                                                                                                                                                                                                                                                                                    A loan receivable has a carrying amount of 100. The repayment of the loan will have no tax consequences. The tax base of the loan is 100.
    (a) Under this analysis, there is no taxable temporary difference. An alternative analysis is that the accrued dividends receivable have a tax base of nil and that a tax rate of nil is applied to the resulting taxable temporary difference of 100. Under both analyses, there is no deferred tax liability.

8 The tax base of a liability is its carrying amount, less any amount that will be deductible for tax purposes in respect of that liability in future periods. In the case of revenue which is received in advance, the tax base of the resulting liability is its carrying amount, less any amount of the revenue that will not be taxable in future periods.

Examples