What is a non-assessable stock?
What is a non-assessable stock?
A non-assessable stock is a class of stock in which the issuing company is not allowed to impose levies on its shareholders for additional funds in order to make further investments. The maximum liability the purchaser of the stock assumes is equal to the initial purchase price of the shares.
What does assessable stock mean?
Assessable stock was a type of stock issue sold to investors at a discount in exchange for the right to come back for more money at a later date. Assessable stock was sold at a discount, but the company could come back for additional funds at a later date. Assessable stock is no longer in use.
What means assessable?
capable of being assessed
: capable of being assessed: such as. a : subject to valuation for the purposes of taxation At the close of the roll, the value of all assessable properties in Solano County was $55 billion, Tonnesen said.—
What is a Bonds par value?
Par Value of Bonds The par value is the amount of money that bond issuers promise to repay bondholders at the maturity date of the bond.
What is the difference between paid and unpaid shares?
What are unpaid and partly-paid shares? If a member receives company shares but does not pay any of the required nominal value (and premium) to the company, the shares are ‘unpaid’. If some of the nominal value (and premium) is paid to the company, those shares are ‘partly paid’.
What is the difference between assessable income and taxable income?
Your assessable income is not the amount upon which your tax is calculated. The taxable amount, known as your ‘taxable income’ is the amount that is your assessable income less allowable tax deductions. Deductions, or legitimate expense claims, generally can be claimed if money was spent in order to earn income.
Can you allot unpaid shares?
Yes, subject to any provisions in the company’s articles of association or a shareholders’ agreement. Shares (often called subscriber shares) are allotted when a company is first incorporated. Further shares can be allotted at any time after incorporation.
Can you transfer shares that are not fully paid?
Shares that were not fully paid up at the time of issue can of course be transferred. But who is held liable for calls on these shares: the transferor or the transferee? For new debts, only the transferee would be held liable to pay up.
What is not included in assessable income?
Non-assessable, non-exempt income is income that we do not assess and you don’t pay tax on. the tax-free component of an employment termination payment (ETP) genuine redundancy payments and early retirement scheme payments shown as ‘Lump sum D’ amounts on your income statement.