A new blog post from Grant Thornton asks “Is it taxable?”
If you’re a business, the answer is usually clear. The rules around calculating a company’s taxable income are well established. But what if you’re a mutual association – a resident’s association, membership organisation or industry group (among others)?
Contents of the article:
- Likely to affect between 6,000 and 10,000 societies
- Lumpy cashflow will need careful management
- The changes we would like to see for mutual associations
- You might not be informed directly, so be aware of your obligations