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1.3 Pursuant to the accruals method of accounting, income is derived when the taxpayer's right to receive payment is a legally enforceable debt. What are

1.3 Pursuant to the accruals method of accounting, income is derived when the taxpayer's right to receive payment is a legally enforceable debt. What are the Commissioner's views as to when a recoverable debt arises (refer to public tax ruling TR 93/11)

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