Page 22 - P6 Slide - Taxation - Lecture Day 1

Disposal (cont.)

Disposal event: Par 11(1)

Generally where a person held an asset at the beginning of a year

and no longer holds it at the end of the year

Includes:

• Sale, donation, cession, exchange, transfer of ownership of an

asset

• Forfeiture, termination, cancellation or abandonment of an

asset

• Scrapping, loss or destruction of an asset

• Vesting of an interest in a trust asset in a beneficiary

• Distribution of an asset by a company to a shareholder

• Granting, renewal, exercising of an option