Page 132 - P6 Slide - Taxation - Lecture Day 1

Debtor (par 12A)

• In the case of capital asset (other than an

allowance asset) the order is:

Base cost (only if the asset is still on hand,

otherwise offset against assessed capital loss).

Assessed capital loss

No gain on balance

•In the case of an allowance asset, the order is:

Base cost (only if the asset is still on hand).

Recoupment

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