Contingent item and Rebasing: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Add links.)
 
imported>Doug Williamson
(Add links.)
 
Line 1: Line 1:
A condition which exists at a reporting date where the outcome will be confirmed only on the occurrence or non-occurrence of one or more uncertain future events.
1. ''Index numbers''.
 
In the context of index numbers, rebasing can refer to either:
 
- changing the weights in an index, such as an inflation index,
 
- changing the reference period of an index number series.
 
 
The weights and the reference period may be changed at the same time.
 
 
2. ''Tax.''
 
In relation to tax, rebasing means re-stating the base value of an asset for tax calculation purposes.
 
The re-statement would usually be upward, thereby reducing any potentially taxable gain calculated on any surplus over the base value.




== See also ==
== See also ==
* [[Contingency]]
* [[Assets]]
* [[Contingent]]
* [[Base value]]
* [[Contingent liabilities]]
* [[Capital gain]]
* [[Capital Gains Tax]]
* [[Corporation Tax]]
* [[Index]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]

Latest revision as of 07:21, 4 March 2022

1. Index numbers.

In the context of index numbers, rebasing can refer to either:

- changing the weights in an index, such as an inflation index,

- changing the reference period of an index number series.


The weights and the reference period may be changed at the same time.


2. Tax.

In relation to tax, rebasing means re-stating the base value of an asset for tax calculation purposes.

The re-statement would usually be upward, thereby reducing any potentially taxable gain calculated on any surplus over the base value.


See also