Q: How do I work out Capital Gains, capital and industrial buildings allowances and Schedule D Case 1 assessments?
13 September 2012
Capital Gains
The position is convoluted but, in general, is:
Capital Gains
The position is convoluted but, in general, is:
First, find the final value of the asset - the sale price or its market value if given away. Then find its original value - normally the purchase price or its market value if owned before 31 March 1982 (no tax is due on gains before that date and no allowances granted...