The principle of mutuality holds that there is no gain if an amount is derived by a taxpayer from him or herself. So far, so straightforward. However, the closer advisers get to mutual entities the clearer it becomes that the taxation of these entities is anything but straightforward.
This session addresses some of the common misconceptions about taxation of mutuals, some opportunities, common challenges and changes. It considers income tax and fringe benefits tax specifically, and update on latest developments in the space.