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this is because income for those that account on a cash basis is...

  1. ddzx
    28,706 Posts.
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    23/11/13
    08:11
    Post #: 12609071
    this is because income for those that account on a cash basis is derived (assessable) when the income is received by them (rather than by when paid by another)


    for example, income received that is paid by cheque is assessable (derived) when the cheque is received rather than when the cheque is dated

    very basic principle

    http://sites.thomsonreuters.com.au/tainsight/2009/03/06/when-is-income-derived/
    AQD Price at posting: 2.7¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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