14.08.2013 Mobile phone discount is prepaid expense The Supreme Tax Court has confirmed its earlier case law to the effect that the discount given on the sale of a mobile phone with a two-year service contract is to be capitalised as a prepaid expense. Categories: Supreme Tax Court casesKeywords: mobile phones, prepaid expense
27.10.2011 Declining rate loan interest to be spread over term of the l ... The Supreme Tax Court has held that declining rate interest on a loan should be taken to prepaid expense and then written off in equal portions over the term of the loan, unless the borrower had an early repayment facility without a claim for partial refund of the higher interest paid. Categories: Supreme Tax Court casesKeywords: early repayment, declining rate, step do ...
