Income Tax Act 2007 section 614BV

Capital allowances deductions: films and sound recordings

Section 614BV addresses the tax treatment when a lessor who has claimed deductions for expenditure on films or sound recordings receives a major lump sum that exceeds the amount already treated as taxable revenue income.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.