Received distribution in the form of bank account closure and distribution of funds from a JV that has liquidated. Would it be correct to disclose this as Gain on cessation of JV in the Revenue note to the financial statement? In terms of the income tax calculation this was deducted as it is deemed to be a non-taxable dividend as a result of the liquidation. I'm just wondering about the correct disclosure in the Statement of Comprehensive revenue and expense and the related note as a result of this.
Any assistance/guidance would be appreciated!
Any assistance/guidance would be appreciated!