Appendix A -- Defined terms
This appendix is an integral part of the Standard.
contributions by owners
A[1]
Future economic benefits that have been contributed to the entity by parties external to the entity, other than those which result in liabilities of the entity, that give rise to a financial interest in the net assets of the entity which:
(a) conveys entitlement both to distributions of future economic benefits by the entity during its life, such distributions being at the discretion of the ownership group or its representatives, and to distributions of any excess of assets over liabilities in the event of the entity being wound up; and/or
(b) can be sold, transferred or redeemed.
fines
A[2]
Economic benefits received or receivable by an entity, as determined by a court or other law enforcement body, as a consequence of a breach of a law or regulation.
payable tax credits
A[3]
Tax credits that are not limited to the amount of a taxpayer’s tax liability for the period, because they are available to beneficiaries regardless of whether they pay taxes.
tax relief
A[4]
Preferential provisions of the tax law that provide particular taxpayers with concessions that are not available to others. Tax relief excludes payable tax credits.
taxable event
A[5]
The event that the government, legislature or other authority has determined will be subject to taxation.
taxes
A[6]
Economic benefits compulsorily paid or payable to public sector entities in accordance with laws and/or regulations established to provide income to the government. Taxes exclude fines.